Data Mining Techniques Are Essential for Database Marketing

question 45

True/False

Data mining techniques are essential for database marketing.

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Definitions:

Diminishing Marginal Utility

The principle that as a person consumes more of a product, there is a decline in the additional satisfaction or utility that person derives from consuming one more unit of the product.

Equality-Efficiency Trade-Off

This concept deals with the balance or compromise between achieving a more equitable distribution of resources and maximizing economic efficiency.

Income Equality

A situation in which earnings are distributed evenly across members of a society, reducing income disparities.

Growing Income Inequality

The increasing gap in the distribution of income and wealth among individuals or households within a community or country.