What Is a Data Flow Diagram (DFD)

question 230

Multiple Choice

What is a data flow diagram (DFD) ?

• A) Illustrates the movement of information between external entities and the processes and data stores within the system.
• B) Software suites that automate systems analysis, design, and development.
• C) A formal, approved document that manages and controls the entire project.
• D) Involves graphically representing the processes that capture, manipulate, store, and distribute information between a system and its environment.

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Definitions:

Short Run

A period in which at least one of a firm's inputs is fixed and cannot be changed, limiting the firm's capacity to adjust production levels.

Monopolistically Competitive

An economic model where numerous companies offer products that are alike but not exactly the same, granting them a certain level of influence over the market.

Profit-Maximizing Quantity

The level of output at which a company achieves the highest possible profit, where marginal cost equals marginal revenue.

Monopolistically Competitive

Describes a market structure where many firms sell products that are similar but not identical, allowing for significant differentiation and some degree of market power.