Software Products Such as Microsoft Office, Adobe Premiere, and Quicken

question 116

Multiple Choice

Software products such as Microsoft Office, Adobe Premiere, and Quicken are also called ________.

• A)legacy software
• B)utility software
• C)open source software
• D)commercial off-the-shelf software

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Definitions:

Edgeworth Box

A diagram used in economics to show various distributions of resources and to analyze competitive equilibria between two agents with fixed resources.

Contract Curve

In microeconomics, it represents the set of optimal allocations of resources between two or more parties from an initial situation.

Pareto Optimal

A condition where resources are distributed in such a way that improving the situation of one person necessitates worsening the situation of another person.

Utility Function

Represents the relationship between the quantities of goods consumed and the level of happiness or utility derived from them.