Which of the Following Is a Characteristic of High-Quality Information

question 136

Multiple Choice

Which of the following is a characteristic of high-quality information?

• A) It is in binary code.
• B) It has been stored a long time.
• C) It is accurate.
• D) It is updated regularly.

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Definitions:

Scale Economies Index

A measurement that assesses the advantages a business gains due to the scale of its operation, typically resulting in reduced costs per unit as production increases.

Cost-Output Elasticity

The responsiveness of the cost of producing a good or service to changes in the level of output.

Diseconomies of Scale

A situation where a business grows so large that the costs per unit increase. It occurs when economies of scale no longer function for a firm.

Production Function

An equation or model that describes the relationship between inputs used in production and the output produced.