Examlex
In data warehouses and data marts, data are stored in a multidimensional structure and visually represented as a data cube. Figure 3.12 is an example of a data cube of sales with the dimensions of product, geographic area, and time period (year) . These are called business dimensions. What would the business dimensions be for Walmart's sales with its many sales transactions for many products in many stores that would allow them to do weekly analysis?
Consumer Surplus
The split between the total amount consumers are prepared to spend on a good or service and the actual amount they spend.
Demand Curve
A diagram that displays the connection between the cost of a commodity and the level of demand for it within a set timeframe.
Producer Surplus
The difference between what producers are willing to accept for a good or service versus what they actually receive, measured above the supply curve to the equilibrium price.
Price Floor
A government-imposed minimum price charged for a good or service, intended to prevent prices from falling below a certain level to protect producers or market sectors.
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