Define Data,information,and Knowledge.Give an Example of Each

question 9

Essay

Define data,information,and knowledge.Give an example of each.

---

Definitions:

Horizontal Axis

The x-axis in a graph or chart, typically used to represent the independent variable or to plot time or specific categories.

Budget Line

A graphical representation of all possible combinations of two goods that a consumer can purchase at given prices and within a specific budget.

Price Of Cup

The amount of money required to purchase a cup, which can vary based on the cup's material, design, and the location of purchase.

Consumption Bundle

A combination of different goods and services that an individual or a household consumes over a certain period.