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What Is the Term for an Information System That Helps

question 45

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What is the term for an information system that helps managers understand problems and potential solutions by acquiring and analyzing information with sophisticated models and tools?


Definitions:

Laissez-Faire Economy

An economic system in which transactions between private parties are free from government intervention such as regulation, privileges, tariffs, and subsidies.

Self-Interest

An individual’s personal gain; the drivers of economic behavior assuming that individuals act in pursuit of their own best interests.

Free-Market System

An economic system based on supply and demand with little or no government control.

Quantity Adjustments

Changes made in the quantity of goods produced or procured in response to shifts in demand or supply.

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