In the Early Days of Computing,jobs Were Executed in Batch

question 24

True/False

In the early days of computing,jobs were executed in batch fashion.

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Definitions:

Production Possibility Set

A graph or curve depicting all maximum output possibilities for two or more goods, given a set of inputs.

Marginal Rate of Substitution

The rate at which a consumer is willing to give up one good in exchange for another, while keeping the overall satisfaction or utility constant.

Pareto Optimal

The configuration of resource distribution where making one person more prosperous requires making another person less so.

Utility Function

A formula that translates the bundle of goods and services selected by a consumer into a numerical value representing satisfaction or utility.