Fixed Costs in the Short-Run Generally Include Which of the Following

question 403

Multiple Choice

Fixed costs in the short-run generally include which of the following?

• A) Manufacturing wages.
• B) Material used in manufacturing.
• C) Property insurance.
• D) Utilities in manufacturing plant.
• E) Contractual commitments to purchase supplies.

Acknowledge the impact of technology, especially social media, on customer service and product quality.

Identify the principles of process reengineering and its importance in organizational efficiency and customer satisfaction.

Know the role and methods of process value analysis in improving workflow.

Understand the extent to which customer service quality impacts organizational success and customer loyalty.

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Definitions:

Scarce Resources

Limited materials, finances, or other assets that are insufficient to meet the demands placed upon them.

Not Substitutable

Describing a unique resource or asset that cannot be replaced with another because it does not have an equivalent.

Organizational Effectiveness

The degree to which an organization achieves its goals and objectives through the efficient use of resources within a given context.

High Machs

Individuals characterized by a Machiavellian personality, often exhibiting manipulation and a strong focus on self-interest.