A Schematic Representation of All the Activities and Interactions That

question 11

True/False

A schematic representation of all the activities and interactions that occur in a process is called a flowchart.

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Definitions:

Trade-Off

A choice made in a given situation where one aspect of a set or design is reduced or forfeited to improve other elements.

Opportunity Cost

The dropping of possible gains that could come from other alternatives when a specific one is chosen.

Production Technology

The methods and processes used to convert inputs into outputs (goods or services).

Corn

A cereal plant that yields large grains, or kernels, set in rows on a cob; widely grown for food, fodder, and biofuel.