If You Were to Focus on Developing Management Information Systems

question 12

Multiple Choice

If you were to focus on developing management information systems that allowed you to reduce the number of employees in the company and, therefore, reduce the price of products offered to the customer, you would be utilizing a _____ strategy.

• A) Focused
• B) Bottom-line
• C) Top-line
• D) Cutting-edge

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Definitions:

Exorbitant Rate

An excessively high and unreasonable rate, often used in reference to interest rates or prices.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, meaning there is no excess supply or demand.

Equilibrium Quantity

The amount of products or services available that matches the amount consumers are willing to buy at the equilibrium price in the market.

Equilibrium Point

Point at which quantity demanded equals quantity supplied; where demand and supply curves cross.