An Information System

question 28

Multiple Choice

An information system:

• A) is composed of only the computer-based information resources of an organization
• B) may consist of both computer-based and manual components
• C) is different from a data processing system because it uses computers
• D) is not generally used for transaction processing

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Definitions:

Maximum Profit

The highest possible financial gain that a company can achieve in a given period under existing conditions.

Natural Monopoly

A market condition in which a single supplier is more efficient in producing the product than any other potential producers due to high fixed or startup costs.

Electricity

A form of energy resulting from the existence of charged particles, used as a power source.

Profit-Maximizing Quantity

The production level where a firm reaches its maximum profit.