The Introduction of Microprocessors, Miniature Circuits Made of Silicon, Made

question 47

True/False

The introduction of microprocessors, miniature circuits made of silicon, made personal computers possible.

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Definitions:

Opportunity Cost

The cost of forfeiting the next best alternative when making a decision or investment.

Next Best Use

An economic concept referring to the most profitable or valuable alternative use of a resource if it is not used in its current manner.

Prime Rate

The interest rate that commercial banks charge their most creditworthy customers, usually large corporations.

Present Value

The current value of a future sum of money or stream of cash flow given a specified rate of return.