Match the Following Terms to Their Meanings

question 56

Short Answer

Match the following terms to their meanings:
I. calculated field
II. constant
III. data redundancy
IV. data type
V. foreign key
A. date of birth is a common field example
B. field in one table that is also the primary key of another table
C. produces a value from one or more existing, often numeric, fields
D. the unnecessary storing of duplicate data
E. determine the type of entry that can be made into a field

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Definitions:

Variable Costs

Expenses that directly fluctuate in relation to the volume of production or output.

Profit-maximizing Output

The peak production point for a firm where it attains its greatest possible profit, characterized by the equality of marginal cost and marginal revenue.

Marginal Cost

The additional cost incurred in producing one more unit of a good or service, crucial for making production and pricing decisions.

Fixed Cost

Fixed cost is a business expense that remains constant regardless of changes in the level of production or sales volumes, such as rent or salaries.