The Production Function for Automobiles Includes

question 108

Multiple Choice

The production function for automobiles includes

• A) farmland,seeds,rain,and tractors.
• B) an aircraft carrier,planes,helicopters,sailors,and pilots.
• C) a mall,racks and shelves,mannequins,and sales clerks.
• D) lumber,shingles,windows,doors,and carpenters.
• E) a factory,an assembly line,workers,and robots.

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Definitions:

Differentiation

The method of differentiating a product or service to make it appeal more to a specific target audience.

Utility

The total satisfaction or benefit derived from consuming a good or service.

Convenience

The aspect of a product or service that relates to the ease of use and the degree to which it saves time and effort for the consumer.

Environmental Scanning

The process of collecting information about external influences and trends that can affect an organization's strategic planning.