Big Data Can Arise from Two Broad Types of Sources

question 23

Multiple Choice

Big Data can arise from two broad types of sources.Which of the following best pairs one type with an example?

• A)accounting, trial balance
• B)marketing, customer preferences
• C)digital, query results from a relational database
• D)All of these

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Definitions:

Natural-Monopoly Situation

A market condition in which a single firm can produce output at a lower cost than can multiple firms, leading to a monopoly justified by efficiencies of scale.

Implicit Costs

The opportunity costs that arise from using resources that a business already owns rather than earning revenue from those resources elsewhere.

Explicit Costs

Direct, out-of-pocket expenses incurred in conducting a business activity, such as wages, rent, and materials.

Economic Profits

Profits earned by a company after accounting for both explicit (direct) and implicit (opportunity) costs.