_____ Are Considered to Be the Most Important Element in a Computer-Based

question 72

Multiple Choice

_____ are considered to be the most important element in a computer-based information system.

• A) Hardware
• B) Software
• C) Procedures
• D) People

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Definitions:

Allocation of Resources

The process of assigning available resources, both human and material, to specific uses to satisfy the needs and wants of a society.

Equal Distribution

The concept of distributing resources or income in a way that every member of a society gets an equal share.

Marginal Cost

The expense incurred from the manufacture of an extra single unit of a product or service.

Opportunity Cost

The expense incurred from not choosing the second-best option available during decision-making.