A Key Component of DSS Is the Ability to Visualize

question 24

True/False

A key component of DSS is the ability to visualize the results.For example,it is important for executives to visualize the results of modifying assumptions.

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Definitions:

Beneficial Supply Shock

A situation in which supply increases unexpectedly, leading to lower prices and potentially higher consumer satisfaction without causing negative economic effects.

Natural Resources

Elements found in the natural environment such as minerals, forests, water, and fertile soil, which can be harnessed for economic profits.

Long-Run Aggregate Supply Curve

A graphical representation showing the relationship between the overall price level and the total output a economy can produce when all resources are fully employed, assuming no changes in technology or resource availability.

Technological Breakthrough

Sudden, significant progress or innovation in technology that dramatically changes industries or societies.