Which Is the First Step in Developing a New Information

question 32

Multiple Choice

Which is the first step in developing a new information system?

• A) Defining the problem
• B) Gathering information requirements
• C) Programming
• D) Developing alternative solutions
• E) Feasibility study

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Definitions:

Oligopolistic Industry

An industry characterized by a small number of firms that have significant control over market prices and where strategic interactions among these firms determine market dynamics.

Herfindahl Index

The Herfindahl Index is a measure of market concentration used to evaluate the level of competition within an industry, calculated as the sum of the squares of each firm's market share.

Four-Firm Concentration Ratio

An economic measure that assesses the concentration and competitive landscape of an industry by adding the market shares of the four largest firms.

Merged

The combining of two or more entities into one, through acquisitions or consolidations.