A(n) _____ Is a Set of Standards That Defines, in Detail

question 67

Short Answer

A(n) _____ is a set of standards that defines, in detail, the relationships among resource description framework (RDF) standards and specific extensible markup language (XML) tags within a particular knowledge domain.

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Definitions:

Short-sightedness Effect

The tendency of decision makers to prioritize immediate benefits at the expense of long-term gains.

Externalities

Costs or benefits that affect a party who did not choose to incur those costs or benefits, often leading to market failure if unaddressed by policy.

Rent-seeking Activities

Efforts to increase one’s share of existing wealth without creating new wealth, often through manipulation of the economic environment.

Economic Efficiency

Economic Efficiency occurs when a system allocates resources in a way that maximizes the production of goods and services at the lowest cost.