The Value of Information Can Best Be Determined by

question 63

Multiple Choice

The value of information can best be determined by

• A)its usefulness to decision makers.
• B)its relevance to decision makers.
• C)the benefits associated with obtaining the information minus the cost of producing it.
• D)the extent to which it optimizes the value chain.

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Definitions:

Ethnocentrism

The belief that one’s in-group is superior to all out-groups.

Cultural Relativism

The idea that something can be understood and judged only in relationship to the cultural context in which it appears.

Language

A system of communication used by a particular community or country, comprising spoken, written, or signed forms.

Patterns of Inequality

Systematic disparities between groups in society, often related to wealth, access to resources, or social status.