Some of These Systems Have the Ability to Retrieve Information

question 71

Multiple Choice

Some of these systems have the ability to retrieve information from databases outside the company, such as business-news services.

• A) Transaction processing system (TPS)
• B) Decision support system (DSS)
• C) Management information system (MIS)
• D) Executive support systems (ESS)

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Definitions:

Perfectly Competitive

A market structure characterized by a large number of small firms, a homogeneous product, perfect information, and no barriers to entry or exit.

Monopolistic Firm

A company that possesses significant market power, allowing it to set higher prices compared to a perfectly competitive market.

Flatter

Describes a structure or hierarchy that has fewer levels, often leading to a broader span of control and potentially more decentralized decision-making.

Demand Curves

A demand curve represents the relationship between the quantity of a good demanded and its price, typically showing an inverse relationship.