Explain the Importance of Timely Data in the Development of an Information

question 10

Essay

Explain the importance of timely data in the development of an information system, with examples.

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Definitions:

Trade Barriers

Measures introduced by governments to restrict or control international trade, such as tariffs, quotas, and import bans.

Trade Restrictions

Measures implemented by governments to control the flow of imports and exports, often to protect domestic industries from foreign competition.

Special Interest Groups

Organizations or groups that advocate for the specific interests of their members, often influencing policy decisions and public opinion.