An Interactive Computer-Based System That Uses Decision Models and Specialised

question 84

Multiple Choice

An interactive computer-based system that uses decision models and specialised databases to support organisation decision makers is known as a(n) :

• A) decision support system
• B) office automation system
• C) expert system
• D) transaction processing system
• E) GIS.

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Definitions:

Good X

An unspecified product or commodity in economics, used in theoretical models and discussions.

Producer Surplus

The difference between the actual price producers receive for a product and the minimum price they would accept.

Supply Curve

A graphical representation of the relationship between the price of a good and the quantity supplied by producers.

Value

The importance or worth that is attached to something by individuals or society, often reflected in what people are willing to exchange or pay for it.