What Is Operations Management

question 18

Multiple Choice

What is operations management?

• A) A field concerned with the use of technology in managing and processing information
• B) The function of selling a good or service and focuses on increasing customer sales, which increases company revenues
• C) The function that plans for, develops, implements, and maintains IT hardware, software, and the portfolio of applications that people use to support the goals of an organization
• D) The management of systems or processes that convert or transforms resources into goods and services

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Definitions:

Excise Tax

A type of tax imposed on specific goods, services, or activities, often included in the price of products like gasoline, alcohol, and tobacco.

Tax Borne

The final economic burden of a tax, indicating who ultimately bears the cost of taxation.

Wage Tax

A tax imposed on employees' earnings, typically deducted from their paychecks by the employer and paid to the government.

Labor Market

The economic marketplace where workers seek employment and employers seek to hire workers, influenced by factors like supply, demand, and wages.