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The Quality of Information Is Determined by Its Usefulness to Management

question 79

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The quality of information is determined by its usefulness to management information system (MIS)users.


Definitions:

Production Possibility Frontiers

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

Wheat

A cereal grain that is a worldwide staple food, grown in countless varieties.

Cattle

Domesticated bovine animals that are raised for various purposes including meat (beef and veal), dairy products, leather, and as draught animals.

Opportunity Cost

Opportunity Cost is the value of the best alternative that is foregone when a particular decision is made.

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