Electronic Data Interchange (EDI) Is the Use of Telecommunications Technologies

question 24

True/False

Electronic Data Interchange (EDI) is the use of telecommunications technologies to transfer business documents directly between organizations.

---

Definitions:

Income Inequality

The unequal distribution of income among individuals or groups within a society.

Labor-intensive Products

Goods that require a relatively high amount of labor to produce, compared to the amount of capital required.

Gini Coefficient

A measure of income inequality within a population, ranging from 0 for perfect equality, to 1 for maximal inequality.

Developing Nations

Countries with a lower living standard, underdeveloped industrial base, and low Human Development Index relative to other countries.