An Interactive Computer-Based System That Produces Models Which Help Managers

question 1

Multiple Choice

An interactive computer-based system that produces models which help managers to make better nonprogrammed decisions is known as a(n) :

• A) decision-support system.
• B) artificial intelligence system.
• C) decisional balance sheet.
• D) transaction-processing system.
• E) business decision mapping.

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Definitions:

Price

The fiscal valuation presumed, demanded, or paid out in purchase of a product.

Bundle

A combination of goods or services that are considered together as a single aggregate.

Consumer's Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, representing the extra utility gained.

Demand Function

A mathematical equation that describes the relationship between the quantity of a good that consumers are willing and able to purchase and its price.