Most of a Business's Daily Activities Are Recorded and Processed

question 121

Multiple Choice

Most of a business's daily activities are recorded and processed by its _____ system,which receives input data and converts them into information intended for various users.

• A)process control
• B)transaction processing
• C)design coordination
• D)production event

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Definitions:

Average Product

The output per unit of a specific factor of production, calculated by dividing total production by the quantity of the employed factor.

Law of Diminishing Returns

An economic principle stating that if one factor of production is increased while other factors are held constant, the resulting increase in output will eventually decrease.

Fixed Input

Production factor that cannot be varied.

Technological Improvement

A process of innovation where new technologies or improvements to existing ones increase the efficiency or effectiveness of products, services, or processes.