In a Hierarchical Model

question 1

Multiple Choice

In a hierarchical model

• A)links between related records are implicit
• B)the way to access data is by following a predefined data path
• C)an owner (parent) record may own just one member (child) record
• D)a member (child) record may have more than one owner (parent)

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Definitions:

Market Competition

The rivalry among businesses to attract customers and achieve higher sales, profits, and market share.

Cournot Model

An economic model that describes an industry structure in which companies compete on the quantity of output they will produce, assuming that each firm's output decision affects the market price.

Perfectly Competitive

A market structure characterized by a large number of small firms, a homogenous product, and free entry and exit, leading to price taking behavior.

Price-leadership Model

An economic concept where one or more dominant firms set their prices, and other, smaller firms in the industry then follow by setting the same or similar prices.