________ Are Used for Applications in Which the Data Must

question 46

Multiple Choice

________ are used for applications in which the data must be processed very quickly (e.g.,mass-transit applications,such as paying bus or train fares) or when contact is difficult (e.g.,security-entering mechanisms to buildings) .

• A) Contact cards
• B) Contactless cards
• C) RFID cards
• D) EEPROM cards

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Definitions:

Supply Curve

Represents the relationship between the price of a good or service and the quantity of that good or service that a supplier is willing and able to supply to the market.

Willingness To Pay

The maximum amount a consumer is prepared to spend to acquire a good or service, reflecting its perceived value.

Full Cost

The total expense associated with producing a product or providing a service, including both direct and indirect costs.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually do pay.