The Set of Methods or Techniques for Acquiring, Organizing, Storing

question 35

Multiple Choice

The set of methods or techniques for acquiring, organizing, storing, manipulating, and transmitting organized and meaningful data is known as:

• A) data harvesting.
• B) data mapping.
• C) data mediation.
• D) informatization.
• E) information technology.

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Definitions:

Implicit Costs

The opportunity costs that arise from using resources that a company already owns for production, instead of earning revenue from these resources elsewhere.

Explicit Costs

Explicit costs refer to direct payments made to others in the course of running a business, such as wages, rent, and materials.

Variable Cost

Costs that change in proportion to the level of output or production activity.

Baking Supplies

Items and ingredients specifically used for the process of baking, such as flour, yeast, baking soda, and baking pans.