Big Data ______

question 24

Multiple Choice

Big Data ______.

• A) relies on the use of structured data
• B) captures data in whatever format it naturally exists
• C) relies on the use of unstructured data
• D) imposes a structure on data when it is captured

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Definitions:

Pure Monopoly

A market structure where a single firm controls the entire supply of a product or service, with no close substitutes.

Barriers to Entry

Obstacles that make it difficult for new competitors to enter a market, such as high startup costs or complex regulations.

Natural Monopoly

A situation in the market where due to high initial costs and substantial economies of scale, a single firm can supply a product or service at a lower cost than any potential competitor, leading to a market dominated by one supplier.

Network Effects

Increases in the value of a product to each user, including existing users, as the total number of users rises.