TB Figure 16

question 74

Essay

TB Figure 16.1 is a Level zero DFD for the GL/BR process.Required:
Explode bubble 3.0, for the "Record Adjustments" process into a level 1DFD

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Definitions:

Perfectly Inelastic

Describes a situation in which the quantity demanded or supplied does not change in response to a change in price.

Relatively Inelastic

Relatively inelastic refers to a situation where the demand for a good or service changes little when its price changes; the percentage change in demand is smaller than the percentage change in price.

Perfectly Elastic

This term describes a situation in market economics where the quantity demanded or supplied responds infinitely to changes in price.

Relatively Elastic

Describes a situation where the quantity demanded or supplied changes significantly in response to a change in price.