Converting Raw Data into a More Meaningful Form Is Called

question 86

Multiple Choice

Converting raw data into a more meaningful form is called:

• A) capturing.
• B) processing.
• C) organizing.
• D) feedback.
• E) inputting.

---

Definitions:

Maximize

The process of increasing a certain outcome or variable to its highest possible level, given a set of constraints.

Total Production

The total output of goods or services produced by an individual firm or an entire industry over a specific period.

Comparative Advantage

The ability of an individual or group to carry out a particular economic activity (such as production of a good or service) more efficiently than another activity.

Opportunity Cost

The loss experienced from bypassing the following superior alternative in the course of decision-making.