When a Systems Vendor Provides Both the Software and Hardware

question 49

Multiple Choice

When a systems vendor provides both the software and hardware needed to run a system as a package,this is known as

• A)a turnkey system.
• B)cloud computing.
• C)an application service package.
• D)canned software.

Comprehend the legal and ethical considerations in professional communication.

Appreciate the role of clarity, brevity, and appropriate tone in business writing.

Understand the best practices for ensuring responses to requests.

Recognize the importance of structural conventions in professional writing.

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Definitions:

Normal Profits

The level of profit necessary to cover the costs of the inputs owned by the firm, acting as the minimum earnings to keep the firm in business.

Competitive Equilibrium

A state in a market where supply equals demand, with no external influences altering the price or quantity.

Constant-Cost Industries

Industries where the costs of production do not change as the total output increases or decreases.

Economic Efficiency

A state where resources are allocated in a way that maximizes the production of goods and services.