Product Focused Processes

question 82

Multiple Choice

Product Focused processes

• A) allow more customization, but are not very efficient
• B) are desirable because resource needs increase slowly with the complexity of a process
• C) are processes that are specialized for relatively few products or customer groups
• D) apply only to service firms, not to manufacturers
• E) are profitable because customers demand flexibility, not specialization

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Definitions:

Price Inelastic

Describes a situation in which the demand for a good or service is relatively unresponsive to changes in price.

Price Inelastic

Describes a situation where the quantity demanded of a good does not significantly change when its price changes.

Agricultural Products

Are commodities produced through farming and agriculture, including food, fibers, and raw materials.

Food Purchases

Transactions involving the buying of food products, either for immediate consumption or storage, by individuals, businesses, or institutions.