Information Systems Contain Information About Significant People, Places, and Things

question 27

True/False

Information systems contain information about significant people, places, and things within the organization or in the environment surrounding it.

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Definitions:

Maximizing Profits

The process of adjusting production and operational processes to achieve the highest possible profit margin.

Minimizing Losses

Strategies or actions taken to reduce the amount of money or resources wasted or not gained in a business operation or investment.

Output

The amount of goods or services produced by a business, industry, or economy.

Price

The financial sum expected, necessary, or handed over in exchange for something.