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Rise of the Information Economy: New Products and Services

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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?

Enough to use technology to create business value Signup and view all the answers

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

Leadership Dimension Signup and view all the answers

What is a primary function of Networks in information technology?

To link computers to share data or resources Signup and view all the answers

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

Having no role in creating business value Signup and view all the answers

What role do Managers play in relation to information technology?

Utilizing technology to create business value Signup and view all the answers

What makes Managers irreplaceable by competitors according to the text?

Their ability to innovate processes and create business value with information systems. Signup and view all the answers

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

A central authority Signup and view all the answers

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

Mixed economy Signup and view all the answers

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

Maximizing social welfare Signup and view all the answers

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

Maximizing profits Signup and view all the answers

Which economic system prioritizes maximizing social welfare over maximizing profits?

Socialist economy Signup and view all the answers

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

'Market forces' and 'central authority' Signup and view all the answers