Identify the Four Parts of the Transaction Processing Cycle

question 100

Multiple Choice

Identify the four parts of the transaction processing cycle.

• A)data input,data storage,data processing,information output
• B)data input,data recall,data processing,information output
• C)data input,data recall,data transmission,information output
• D)data input,data recall,data transmission,data storage

---

Definitions:

Long-run Profit

The amount of financial gain achieved over a longer period, taking into account all fixed and variable costs.

Market Demand Curve

Curve relating the quantity of a good that all consumers in a market will buy to its price.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that consumers are willing to purchase at various prices.

Incumbent Firm

An established company that holds a dominant position in a particular market or industry.