____ Refers to the Combination of Hardware, Software, and Services

question 63

Multiple Choice

____ refers to the combination of hardware, software, and services that people use to manage, communicate, and share information.

• A)Information systems
• B)Information technology
• C)Computer systems
• D)Computer technology

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Definitions:

Total Revenue

The total receipts a company receives from sales of goods or services before any expenses are subtracted.

Identical Products

Goods that are exactly the same in terms of quality, size, and features, making them indistinguishable from one another in the eyes of consumers.

Close Substitutes

Products or services that can serve as almost identical alternatives to one another, typically influencing consumer choice and market dynamics.

Monopoly

A market structure characterized by a single seller dominating the market, often resulting in limited competition and higher prices for consumers.