________ Determines How Much Value Is Created at the Conversion

question 61

Multiple Choice

________ determines how much value is created at the conversion stage.

• A) The way an organization chooses and obtains the inputs it needs to produce goods and services from its environment
• B) The method used by an organization to sell its products or services to the customers
• C) The feedback received by an organization from its customers about its products or services
• D) The way an organization uses human resources and technology to transform inputs into outputs

---

Definitions:

Scarcity

A fundamental economic problem of having seemingly limitless human wants in a world of limited resources, which leads to the necessity of making choices on how to allocate resources efficiently.

Rewarded

Pertains to receiving a benefit or compensation in return for an action or service.

George Homans

An American sociologist known for his work in developing social exchange theory, explaining social behavior in terms of costs, benefits, and expectations of rewards.

Success

The achievement of a goal or objective, often recognized through the attainment of fame, wealth, or social status.