Applications That Are Designed and Developed Exclusively for a Specific

question 46

Multiple Choice

Applications that are designed and developed exclusively for a specific organization are known as ________ software.

• A) collaborative
• B) custom
• C) groupware
• D) ready-made application
• E) packaged

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Definitions:

Entrepreneur

A person who establishes, arranges, and manages one or more businesses, assuming higher-than-usual financial risks to achieve this.

"Invisible Hand"

A metaphor introduced by Adam Smith to describe how individual self-interest and competition can lead to social and economic benefits.

Price Mechanism

The manner in which the prices of goods or services affect the supply and demand of those goods or services, and how this interaction determines the allocation of resources.

Equity

The ownership interest held by shareholders in a corporation, represented by their shares of the company.