Standardising of Data Elements Allows For

question 9

Multiple Choice

Standardising of data elements allows for:

• A)Marketing, sales, inventory and billing
• B)Data mart 1, data mart 2 and data mart 3
• C)Competitor and industry information, mailing lists and stock market analysis
• D)Marketing information, sales information and stock market analysis

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Definitions:

Substitution Effects

The substitution effect occurs when consumers replace more expensive items with less costly alternatives as prices rise.

Income Effect

The change in an individual's consumption resulting from a change in their income.

Normal Good

A good for which demand increases as the income of the consumer increases, showing a positive relationship between income and demand.

Income Effect

The impact of income fluctuations on an individual or an economy on the quantity of goods or services that is demanded.