The Textbook Refers to Four Interrelated Components of the Database

question 2

Multiple Choice

The textbook refers to four interrelated components of the database concept. Which of the following is not one of the components?

• A) the database management system
• B) the database administrator
• C) the physical database
• D) the conceptual database

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Definitions:

Market Equilibrium Price

The price at which the quantity of goods buyers are willing to purchase equals the quantity sellers are willing to sell.

Quantity Demanded

The amount of a good or service that consumers are willing and able to purchase at a given price over a specified period.

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a given price in a given time period.

Surplus

A situation in which the quantity of a good or service supplied exceeds the quantity demanded, often leading to a price reduction.