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Differentiate Between the Traditional and Database Approach to Data Management

question 11

Essay

Differentiate between the traditional and database approach to data management.


Definitions:

Moral Hazard

The increase in risk-taking behavior when an individual or entity is protected from the consequences, typically in an insurance or financial context.

Insurer

An insurer is a company that offers insurance policies to individuals or entities, providing financial protection against losses or damages in exchange for premiums.

Designated Beneficiary

A person named in a legal document who is authorized to receive benefits or assets upon the death of the owner or holder of the document.

Specific Sum

A precise amount of money defined and agreed upon in a contractual or legal context.

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