In Marketing Information Systems,database Management Software

question 43

Multiple Choice

In marketing information systems,database management software:

• A)is used for sorting and retrieving data from internal and external sources.
• B)contains routines for manipulating data in ways that are useful for marketing decision making.
• C)permits marketers to use models to produce information to address their decision-making needs.
• D)provides tools for marketers to search for meaningful trends in large sets of data.

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Definitions:

Substitute Factor

A factor or input that can be used in place of another to produce a good or service.

Factor Production

Refers to the inputs or resources used in the process of producing goods and services, including land, labor, capital, and entrepreneurship.

Labor Demand Curve

A graphical depiction of the relationship between the quantity of labor that employers wish to hire and the wage rate, assuming other factors are constant.

Marginal Product

The increase in output resulting from an additional unit of input, while keeping other inputs constant.