Customers of Hanson Company, a Home Furnishings Wholesaler, Place Orders

question 56

Multiple Choice

Customers of Hanson Company, a home furnishings wholesaler, place orders by contacting a sales representative via a toll-free number.Identify the constraints of the following data model relationship.

• A)1:1
• B)1:N
• C)N:M
• D)N:1

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Definitions:

Utility Function

A mathematical representation in economics that shows the relationship between the total utility derived from consuming a good or service and its quantity.

Compensating Variation

An economic measure of the amount of money an individual would need to reach their initial level of utility after a change in prices, policy, or economic condition.

Fractional Numbers

Numbers that represent a part of a whole, typically written with a numerator and a denominator, such as 1/2 or 3/4.

Utility Function

A representation in economics of how a consumer prefences various goods or services, leading to choices that maximize their satisfaction or utility.