Jun Is Getting Ready to Open a Store in Her

question 3

Multiple Choice

Jun is getting ready to open a store in her home town to sell unique lamp bases and shades. She has bought a laptop to use in the store for all of her operating needs. One of the first applications she knows she needs is one to handle her accounting and check book. How might she go about getting such an application for her business?

• A)open source software
• B)software-as-a-service
• C)open systems
• D)application software package
• E)All of these choices are valid approaches.

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Definitions:

Economy's Natural Ability

The inherent capacity of an economy to grow and adapt over time, based on resources, technology, and human capital.

Active Economic Policy

Government interventions aimed at influencing the economy through measures such as fiscal and monetary policies to achieve specific macroeconomic objectives.

Law of Diminishing Returns

An economic principle stating that adding an additional factor of production results in smaller increases in output after a certain point.

Rational Expectations

A school of thought that argues people form expectations based on all available information, including the likely future actions of government policymakers.