Rise of the Information Economy: New Products and Services
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Questions and Answers

What is NOT a role of Information Systems Managers?

  • Decision makers
  • Innovators of new processes
  • Sense makers
  • Software developers (correct)

What is a key ingredient to success with information systems according to the text?

  • Managers who have no technical knowledge
  • Managers who can understand the role of information systems in creating business value (correct)
  • Managers who do not innovate processes
  • Managers who focus solely on hardware components

In the context of information technology, what does 'Storage' refer to?

  • The physical location of data
  • The physical media for storing data and software (correct)
  • The process of decision-making
  • The process of transferring data between computers

What do Information Systems Managers need to know about technology to make intelligent decisions?

<p>Enough to use technology to create business value (A)</p> Signup and view all the answers

Which of the following is NOT a dimension of Information Systems mentioned in the text?

<p>Leadership Dimension (B)</p> Signup and view all the answers

What is a primary function of Networks in information technology?

<p>To link computers to share data or resources (B)</p> Signup and view all the answers

Which of the following is NOT a characteristic of Information Systems Managers according to the text?

<p>Having no role in creating business value (B)</p> Signup and view all the answers

What role do Managers play in relation to information technology?

<p>Utilizing technology to create business value (C)</p> Signup and view all the answers

What makes Managers irreplaceable by competitors according to the text?

<p>Their ability to innovate processes and create business value with information systems. (C)</p> Signup and view all the answers

In a socialist economy, decisions regarding 'what, how and for whom to produce' are taken by:

<p>A central authority (C)</p> Signup and view all the answers

Which type of economy combines the features of market economies and socialist economies?

<p>Mixed economy (D)</p> Signup and view all the answers

What is the primary focus of a socialist economy when making production decisions?

<p>Maximizing social welfare (D)</p> Signup and view all the answers

What is the main focus of market forces in a mixed economy?

<p>Maximizing profits (C)</p> Signup and view all the answers

Which economic system prioritizes maximizing social welfare over maximizing profits?

<p>Socialist economy (A)</p> Signup and view all the answers

In a mixed economy, who plays a role in decisions relating to production?

<p>'Market forces' and 'central authority' (B)</p> Signup and view all the answers

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