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Is/Macro

IS/MACRO

37 cards·by cchroma
macroeconomicsprinciples of inform
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Business Model
describes how a company produces
Business Processes
The manner in which work is organized
Change Managment
Giving proper consideration to the impact of organizational change associated with a new system or alteration of an existing system
computer hardware
Physical equipment used for input
Change Managment
Giving proper consideration to the impact of organizational change associated with a new system or alteration of an existing system
Computer Literacy
A working understanding of the fundamentals of computers and their uses.
Information systems
computer-based systems that capture
Information systems literacy
knowledge of how data and information are used by decision makers in an organizational setting.
Market Power
the ability to influence the market price of the product it sells
Market Economy
allocates resources through the decisions of many households and firms as they interact in markets
Incentive
something that induces a person to act
Rational People
Systematically and purposefully do the best they can to achieve their objectives given their available opportunities
efficiency
the property of distributing economic prosperity uniformly among the members of society.
Economics
the study of how society manages its scarce resources
Intranets
Internal networks based on internet and world wide web technology and standards
Management information systems
the study of information systems focusing on their use in business and management
networking and telecommunications technology
Physical devices and software that link various computer hardware components and transfer data from one physical location to another.
processing
Manipulating or organizing data into information.
Computer Software
The programs that provide the instructions that a computer executes.
data management technology
software governing the organization of data on physical storage media
extranets
web sites accessible externally only to vendors/suppliers
Information Technology
All the hardware & software that a firm needs in order to achieve their business objectives.
information technology infrastructure
computer hardware
Law of supply
the claim that the quantity supplied of a good rises when the price of the good rises
Law of demand
the claim that the quantity demand of a good falls when the price of the good rises
Equilibrium
A situation in which the market price has reached the level at which quantity supplied equals quantity demand
Business Cycle
The rise and fall of economic activity over time.
inflation
an increase in the overall level of prices in the economy
productivity
the quantity of goods and services produced from each unit of labor input
externality
the impact of one person's actions on the well-being of a bystander
Market failure
A situation in which a market left on its own fails to allocate resources efficiently
Property rights
the ability of an individual to own and exercise control over scarce resources
marginal change
a small incremental adjustment to an existing plan of action.
Opportunity Cost
whatever must be given up to obtain some item
equality
the property of distribution economic prosperity uniformly among the members of society
Scarcity
the limited nature of societys resources
Input
The information that people receive for processing in an information system