Questions

Prices do not reflect the full social cost of production is an example of Market failure.

A market failure occurs when the supply of a good or service is insufficient to meet demand. This results in an inefficient distribution of resources among market participants.

It also occurs if externalities are not accounted for.

If a firm fails to maximize its profits this is not a general market failure.

Testing is a process used for revealing defects in s/w and for establishing that the s/w has attained a specific degree of quality.

The s/w testing group’s main objective is to ensure that the s/w is doing what it is supposed to do as well as the s/w is not doing what it is not supposed to do. With this objective, it is clear that it is necessary to have a separate group for testing the s/w other than the group which developed it.

Also, bugs in the s/w can cause severe monetary as well as other loss to the organization. So it is important to allocate some budget for the testing group.

Energy can be transferred from one system to the other. The rate at which energy is transferred from one system to other system is called POWER. Energy transferred in one second is called a watt.

A primary key is a special relational database table column or combination of columns designated to uniquely identify all table records. That is, A primary key is a column or set of columns in a table that uniquely identifies tuples (rows) in that table.

A primary key, also called a Primary Keyword.

Main Features Primary key are ::

It must contain a unique value for each row of data.

It cannot contain null values.