Identify the Business Advantages of a Relational Database

question 242

Essay

Identify the business advantages of a relational database.

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Definitions:

Negative Economic Profits

A situation where a firm's total revenues are less than the total costs, including both explicit and implicit costs, leading to losses.

Accounting Profit

The total revenue of a business minus the explicit costs, representing the financial gain shown in the income statement.

Implicit Costs

The opportunity costs that arise from using assets, resources, or funds to undertake an action instead of another activity, not directly recorded in financial statements.

Explicit Costs

Direct monetary expenses incurred in the course of doing business, such as wages, rent, and materials.