Before You Begin the Process of Designing a Database,it Is

question 61

True/False

Before you begin the process of designing a database,it is important that you first understand the business rules.

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Definitions:

Market Equilibrium

A situation in which market supply equals market demand, and prices stabilize.

Demand Price

The highest price consumers are willing to pay for a good or service at a given quantity, reflecting the value placed on the item by the market.

Substitutes

Goods or services that can be used in place of each other, where an increase in the price of one leads to an increase in demand for the other.

Imposes a Quota

A restriction, set by a government, on the maximum number of units of a particular product that can be imported or exported within a given period.