Truzan Creations,one of the Leading Names in the Handicraft Industry,recently

question 19

Multiple Choice

Truzan Creations,one of the leading names in the handicraft industry,recently launched a new artifact in the market.The company uses a database to store information on the number of products manufactured,the weekly sales,the list of suppliers,and the profits achieved.The process component of the information system is used to conduct analysis on the data to generate information about sales.Which can be used by Truzan Creations to generate predictions for its next sales period?

• A)Forecasting models
• B)Estimation graphs
• C)Modeling charts
• D)Theoretical hypotheses

Apply the concept of utility maximization to allocate resources effectively between different choices.

Evaluate comparative advantage and how it determines production specialization between individuals or entities.

Understand the relationship between production possibilities and Pareto optimality in resource allocation.

Interpret how marginal rates of substitution influence consumer choices and the allocation of resources.

---

Definitions:

Privilege

The advantages or rights that are available to a particular person or group of people which are not afforded to others.

Racial Formation

A socio-historical process by which racial categories are created, inhabited, transformed, and destroyed.

Whiteness

A social and political construct that gives individuals perceived as white certain privileges and advantages.

Meritocracy

A system in which advancement is based on individual ability or achievement, rather than on class privilege or wealth.