Much of the World's Data Is Stored in Files That

question 122

True/False

Much of the world's data is stored in files that can only be read by the programs that created them. With metadata, the information in these files can be tagged with information describing the nature of the data, where it came from, or how it's arranged so that the files can be read and used by a wide variety of applications.

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Definitions:

Marginal Private Benefits

The additional satisfaction or utility gained by a consumer or firm from consuming or producing one more unit of a good.

Positive Externalities

Benefits that are enjoyed by a third-party or the society at large, as a result of an economic transaction.

Socially Optimal Level

The socially optimal level is the quantity of production or consumption where the marginal social cost equals the marginal social benefit, maximizing overall welfare.

Policymakers

Individuals or groups responsible for making decisions and establishing regulations that guide the economic, social, and political governance of a society.