Examlex
Data is useful for understanding individual sales,but to gain deeper insight into a business data needs to be turned into information.Which of the following offers an example of turning data into information?
Heating Substitutes
Alternative heating sources that can replace the primary heating method, including electric heaters, solar heating, and geothermal heat pumps.
Price-Discriminating
A pricing strategy where a seller charges different prices for the same product or service to different customers, based on various criteria.
Allocative Inefficiency
Allocative Inefficiency occurs when the allocation of resources does not correspond to consumer preferences, resulting in misallocation of resources and potential welfare losses.
Pure Monopolist
A market situation in which a single company or entity exclusively controls the supply of a particular good or service, with no close substitutes.
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