Which of the Following Was NOT a Way NC State

question 95

Multiple Choice

Which of the following was NOT a way NC State used IBM's "Big Data" analytics technology?

• A)Analyze its web pages
• B)Establish new business opportunities
• C)Market more effectively to potential partners
• D)Reduce the size of its faculty

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Definitions:

Explicit Costs

Direct, out-of-pocket payments for wages, rent, materials, and other inputs in the production process.

Opportunity Costs

The value of the best alternative foregone when a decision is made to pursue a particular action, essentially the cost of choosing one option over another.

Implicit Costs

The opportunity costs of using resources owned by the firm for its own production, instead of earning income elsewhere.

Explicit Costs

Direct, out-of-pocket payments made for the operation of a business, such as wages, rent, and materials.