Defining Requirements Such as the Amount of Data to Be

question 104

Short Answer

Defining requirements such as the amount of data to be stored, functional layouts for computer inquiry screens and reports, and processing response times are part of developing the ______________________________ for the selected design.

---

Definitions:

Firm's Willingness

The degree to which a company is prepared to produce goods or services at a certain price.

Market Price

The price at which a product or service is sold in the open market.

Consumer Surplus

The gap between the price consumers are prepared to pay for a product or service and the actual amount they spend, indicating the value gained by consumers.

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a particular price point, within a specific time period.