What Does the Data Warehousing Institute Estimate That Low-Quality Information

question 14

Multiple Choice

What does the Data Warehousing Institute estimate that low-quality information costs U.S.businesses annually?

• A) $500 million
• B) $60 billion
• C) $600 billion
• D) It is impossible to determine.

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Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers matches the quantity supplied by producers, resulting in no surplus or shortage.

Market Price

The actual selling price of a good or service in the market at which it can be bought or sold.

Surplus

The amount by which quantity supplied exceeds quantity demanded, often resulting in excess goods and a decrease in prices.

Shortage

A situation in which demand for a good or service exceeds its supply in a market.