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Welcome to the Economics of Big Data MCQs Page

Dive deep into the fascinating world of Economics of Big Data with our comprehensive set of Multiple-Choice Questions (MCQs). This page is dedicated to exploring the fundamental concepts and intricacies of Economics of Big Data, a crucial aspect of Big Data Computing. In this section, you will encounter a diverse range of MCQs that cover various aspects of Economics of Big Data, from the basic principles to advanced topics. Each question is thoughtfully crafted to challenge your knowledge and deepen your understanding of this critical subcategory within Big Data Computing.

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Check out the MCQs below to embark on an enriching journey through Economics of Big Data. Test your knowledge, expand your horizons, and solidify your grasp on this vital area of Big Data Computing.

Note: Each MCQ comes with multiple answer choices. Select the most appropriate option and test your understanding of Economics of Big Data. You can click on an option to test your knowledge before viewing the solution for a MCQ. Happy learning!

Economics of Big Data MCQs | Page 2 of 6

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Q11.
What is one of the policy-driven actions to stimulate market growth through Big Data?

a.

Limiting data disclosure policies

b.

Restricting the use of Open Government Data

c.

Implementing data privacy regulations

d.

Promoting Open Government Data policies

Discuss
Answer: (d).Promoting Open Government Data policies Explanation:One of the policy-driven actions to stimulate market growth through Big Data is promoting Open Government Data policies.
Q12.
Who first introduced the concept of the value chain?

a.

Michael Porter

b.

Nellie Kroes

c.

Peter Drucker

d.

John Kotter

Discuss
Answer: (a).Michael Porter Explanation:Michael Porter first introduced the concept of the value chain.
Q13.
How has the concept of the value chain been adopted in the discipline of information and media economics?

a.

To distinguish between competing companies

b.

To describe sequential production logics

c.

To illustrate the revenue models of print media

d.

To quantify economic benefits

Discuss
Answer: (b).To describe sequential production logics Explanation:The concept of the value chain has been adopted in the discipline of information and media economics to describe sequential production logics.
Q14.
What does the cloud computing paradigm build on?

a.

Reduction of computational capacity

b.

Reduction of demand-side costs

c.

Reduction of supply-side resources

d.

On-demand consumption of computational capacity

Discuss
Answer: (d).On-demand consumption of computational capacity Explanation:The cloud computing paradigm builds on the premise that computational capacity can be consumed on-demand.
Q15.
What are some expected benefits of cloud computing in the context of Big Data?

a.

Decreased storage capacities

b.

Reduced availability of heterogeneous data

c.

Significant productivity gains

d.

Increased IT infrastructure costs

Discuss
Answer: (c).Significant productivity gains Explanation:Some expected benefits of cloud computing in the context of Big Data include significant productivity gains.
Q16.
What are the key advantages of cloud computing compared to conventional architectures?

a.

Lower operational costs and reduced upfront costs

b.

Increased complexity of IT management and higher labor costs

c.

Reduced reliability and reduced electricity consumption

d.

Increased infrastructure labor costs and higher security costs

Discuss
Answer: (a).Lower operational costs and reduced upfront costs Explanation:The key advantages of cloud computing compared to conventional architectures include lower operational costs and reduced upfront costs.
Q17.
What is one of the cost incentives driving the adoption of Big Data for analytical purposes?

a.

Increased upfront costs

b.

Higher management and operational costs

c.

Economies of scale

d.

Reduced supply-side savings

Discuss
Answer: (c).Economies of scale Explanation:One of the cost incentives driving the adoption of Big Data for analytical purposes is "Economies of scale."
Q18.
How does the utilization of existing resources in cloud computing affect costs?

a.

It increases upfront costs.

b.

It reduces operational costs.

c.

It has no impact on costs.

d.

It increases labor costs.

Discuss
Answer: (b).It reduces operational costs. Explanation:The utilization of existing resources in cloud computing reduces operational costs.
Q19.
What is the "Pay-As-You-Go-Principle" in cloud computing?

a.

Paying a fixed upfront cost for cloud services

b.

Paying for cloud services based on actual usage

c.

Paying for cloud services in bulk at a discounted rate

d.

Paying for cloud services annually

Discuss
Answer: (b).Paying for cloud services based on actual usage Explanation:The "Pay-As-You-Go-Principle" in cloud computing involves paying for cloud services based on actual usage.
Q20.
What contributes to the reduced complexity of IT management in cloud computing?

a.

Layered architecture and APIs

b.

Increased infrastructure labor costs

c.

Higher operational costs

d.

Reduced supply-side savings

Discuss
Answer: (a).Layered architecture and APIs Explanation:The reduced complexity of IT management in cloud computing is attributed to layered architecture and APIs.
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