Using MIS (10th Edition)
Using MIS (10th Edition)
10th Edition
ISBN: 9780134606996
Author: David M. Kroenke, Randall J. Boyle
Publisher: PEARSON
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Chapter 6.3, Problem 8EGDQ

Explanation of Solution

Definition of Rich:

The term “rich” means having enough money to securely maintaining one’s life or having lot of assets are considered as one’s wealth.

Classifying someone as rich:

  • Different people can have different opinions about who is “rich”? But, becoming a rich is one of our personal economic goals, it’s important to know the exact means of wealth to judge or classifies someone is rich.
  • Defining wealth in terms of amount- either for salary or for net value or capital.
    • The given scenario states that, people who earn $500,000 per year are considered as rich.
    • Similarly, partners who earns themselves in the range $1M-$5M every six months are consider as rich...

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Students have asked these similar questions
Some claim that the Internet and computers have created a digital divide between the privileged and the impoverished. There are many who believe this has serious moral repercussions and that something ought to be done about the disparity between the haves and the have-nots since the latter may feel discriminated against or socially ostracized as a result. Do you believe that everyone, regardless of where they live, their financial situation, their level of education, or their ability to use computers, should have access to the Internet? Who should provide aid and education, and who should foot the bill? Exactly why shouldn't everyone have access to the web?
A luxury can be defined as something that is an indulgence, rather than a necessity. Most people in the world would view items such as food, shelter, and water as necessities. In the United States, many would likely add electricity and indoor plumbing to that list. Today, many individuals are beginning to view Internet access as a necessity. But is it really a necessity-that is, essential for existence? If so, what about the individuals who do not have Internet access or those who choose not to use it? How might the perception of Internet access being or not being a necessity affect the growth of e-commerce?
In today’s technologically advanced society, is there really privacy? Based on your own personal experiences with social media (Facebook, Twitter, Tik Tok, Instagram, or Snapchat), do you feel that individuals should be held accountable for their actions outside of the workplace? Is it possible that, due to the technological advances in smart phones, tablets, and other communication devices, workplace and personal privacy have meshed together to a point that what was once personal space is now fair game in the hiring and firing practices?
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