FIP Principles Are Based on the Notion of the

question 67

Multiple Choice

FIP principles are based on the notion of the

• A) accountability of the record holder.
• B) responsibility of the record holder.
• C) mutuality of interest between the record holder and the individual.
• D) privacy of the individual.

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Definitions:

Price-inelastic

A characteristic of a good for which demand does not change significantly when its price changes.

Total Revenue

The overall amount of money received by a company for goods sold or services provided during a certain time period.

Total Revenue

The total receipts a firm receives from sales of its product or services.

Total Revenue

The overall amount of money generated by a firm from selling its goods or services, calculated as the unit price multiplied by the quantity sold.