Why Is an Efficient Data Communication System Critical to an Information

question 7

Essay

Why is an efficient data communication system critical to an information system?

Grasp the effect of group dynamics on individual behavior, including conformity, bystander effect, and deindividuation.

Understand the concept of attribution theory, including situational and dispositional attributions.

Identify factors that contribute to various attribution biases such as the actor-observer effect, fundamental attribution error, and self-serving bias.

Distinguish between high and low consensus, consistency, and distinctiveness cues in attribution theory.

---

Definitions:

Industry

A sector of the economy made up of manufacturing, production, or services in a similar area of business, contributing to the production of goods or services.

Collusion

Collusion is a non-competitive, secret, and sometimes illegal agreement between competitors to manipulate market conditions by coordinating prices, production, or marketing strategies.

Oligopoly

An economic scenario in which a few large companies control the majority of the industry, resulting in minimal competition and possibly increased prices for buyers.

Profit

The financial gain made in a transaction or operation, calculated as total revenues minus total costs.