The Top-Down Approach to Data Modeling Derives a Data Model

question 121

True/False

The top-down approach to data modeling derives a data model from an intimate understanding of the nature of the business.

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Definitions:

Producer Surplus

The additional income a producer receives for selling a good or service above its production cost.

Tax

A tax is a compulsory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization.

Consumer Surplus

The discrepancy between the amount consumers are prepared to spend on a product or service and the actual price they pay.

Consumer Surplus

The gulf between the aggregate amount consumers are willing to allocate for a good or service and what they actually end up paying.