A _____ Key Is a Real-World, Generally Accepted Identifier Used

question 6

Multiple Choice

A _____ key is a real-world, generally accepted identifier used to uniquely identify real-world objects.

• A) primary
• B) natural
• C) foreign
• D) surrogate

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Definitions:

Average Variable Cost

The sum of all costs that vary with output levels, divided by the total output generated.

Economies of Scale

The cost advantage that arises with increased output of a product, as the fixed costs are spread over more units of production.

Adam Smith

An 18th-century Scottish economist and philosopher, best known for his theories of the free market and the "invisible hand" guiding economies.

Diseconomies of Scale

Diseconomies of scale occur when a firm's costs per unit increase as it produces more units, due to inefficiencies.