Which Is a Characteristic of Valuable Data

question 11

Multiple Choice

Which is a characteristic of valuable data?

• A) consistency
• B) global outreach
• C) relevance
• D) performance

Grasp the concept of the transformation process in operations management and its significance in converting inputs into valuable outputs.

Recognize the roles and responsibilities of operations management in organizations.

Identify the similarities and differences between goods and services in the context of operations management.

Understand the characteristics unique to service operations, including labor intensity and customization.

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Definitions:

Efficiency

The ability to produce maximum output with a given set of inputs or resources, minimizing waste and costs.

Equality

The state of being equal, especially in status, rights, and opportunities.

Output

The complete sum of products or services generated by an individual, device, company, or economic system.

Total Surplus

The aggregate benefit to society, represented by the consumer and producer surplus, from the consumption and production of a good or service.