Unless Source Data Automation Is Used, Manual Data Entry Is

question 47

True/False

Unless source data automation is used, manual data entry is faster and less expensive than batch input because it is performed at specified times and always when computer demand is at its lowest.

---

Definitions:

Price Ceiling

A government-imposed limit on how high the price of a product can be charged in the market to protect consumers from high prices.

Consumer Surplus

The gap between the amount consumers are prepared to spend on a product or service and the amount they end up paying.

Excess Demand

A situation in which the quantity demanded of a good exceeds the quantity supplied at the existing price, often leading to a rise in price.

Supply Functions

Mathematical expressions that relate the quantity of a good that producers are willing to sell to the price of the good and other factors.