A(n)_____ Is a Diagram Used During Both the Analysis and Design

question 12

Short Answer

A(n)_____ is a diagram used during both the analysis and design phases of a traditional systems development life cycle to document the processes of a current system or to provide a model of a proposed new system.

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Definitions:

Cost Curves

Graphs that show the cost of producing different quantities of a good or service, typically including average and marginal cost curves.

Market Price

The current price at which an asset or service can be bought or sold in a competitive marketplace.

Total Cost

The total cost is the sum of fixed and variable costs incurred in the production of goods or services.

Economic Profit

The difference between total revenue and the total costs of inputs, including both explicit and implicit costs.