The Generic Elements of an AIS Include Inputs and Outputs

question 32

Multiple Choice

The generic elements of an AIS include inputs and outputs.Which of the following statements about them is most true?

• A)Inputs should be paper-based; outputs should be electronic.
• B)Outputs should be paper-based; inputs should be electronic.
• C)If inputs are paper-based, outputs should also be paper-based.
• D)If inputs are electronic, outputs could be either paper-based or electronic.

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Definitions:

Diminishing Returns

An economic principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot increase proportionally.

Total Product Curve

A graphical representation showing how the total quantity of output changes with variation in the quantity of a single input, holding other inputs constant.

Marginal Returns

The additional output gained by adding one more unit of input, holding all other inputs constant.

Minimum Efficient Scale

The minimum efficient scale is the lowest point of production where a firm can achieve the economies of scale, reducing its cost per unit to the minimum.