Those Entities Which Perform No Information Processing Activities for the System

question 41

Multiple Choice

Those entities which perform no information processing activities for the system are called:

• A) external entities
• B) internal entities
• C) boundary entities
• D) environmental entities

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Definitions:

Inelastic

Characterizes a situation where the demand for a product is not significantly affected by changes in price.

Elastic

Describes a situation in economics where the demand for a product or service significantly changes in response to a change in price.

Inelastic

A characteristic of goods or services for which demand does not significantly change with a change in price.

Price Range

The difference between the lowest and highest prices within a given market.