All of the Following Belong to the Process of Information

question 99

Multiple Choice

All of the following belong to the process of information cleansing except:

• A) making sure that data is consistent
• B) making sure that data is accurate
• C) making sure that data is complete
• D) making sure that data is accessible

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Definitions:

Contestable Market

A market structure where there are no barriers to entry or exit, ensuring that prices remain competitive even in the absence of a large number of sellers.

Minimum-cost Production

A principle in economics where goods and services are produced at the lowest possible cost, maximizing efficiency and resource use.

Normal Profit Rate

Zero economic profit, providing just the competitive rate of return on the capital (and labor) of owners. An above-normal profit will draw more entry into the market, whereas a below-normal profit will lead to an exit of investors and capital.

Contestable Market

A market where companies can enter and exit freely, with low barriers to entry and exit, leading to competitive prices and efficient outcomes.