Database Management Systems DBMS) Are Computer Programs Used to Manage

question 59

True/False

Database management systems DBMS) are computer programs used to manage additions, updates, and deletions of data in a database as transactions occur; and support data queries and reporting.

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Definitions:

Pure Monopolies

Markets where a single seller dominates, offering a unique product with no close substitutes, controlling prices and output.

Purely Competitive

A market structure characterized by a large number of buyers and sellers, free entry and exit, and a standardized product, leading to companies becoming "price takers."

Marginal Revenue

The increase in revenue resulting from the sale of one additional unit of output.

Profit-Maximizing

The process or strategy of adjusting production and pricing to achieve the highest possible profit within a market.