What Is Process Modeling

question 125

Multiple Choice

What is process modeling?

• A) Illustration of 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) Graphic representation of the processes that capture, manipulate, store, and distribute information between a system and its environment.

---

Definitions:

Price Level

An indicator reflecting the average prices of goods and services in an economy at a given time, showcasing the cost of living and inflation.

Firms' Expectations

The outlook or anticipations of businesses regarding future economic conditions, sales, and profitability, which can influence their investment and production decisions.

Nominal Wage Rates

The amounts of money paid to workers before adjustments for inflation.

Price Level

A measure of the average prices of goods and services in an economy at a given time, often reflected in a price index.