Which of the Following Statements Is True of Operations Management

question 107

Multiple Choice

Which of the following statements is true of operations management in the 2010s?

• A) It focuses on creating value rather than minimizing costs.
• B) It focuses on efficiency rather than effectiveness.
• C) It favors simple supply chains rather than complex value chains.
• D) It focuses on mass production rather than mass customization.

---

Definitions:

Government Budget

A financial statement presenting the government's proposed revenues and spending for a financial year.

Loanable Funds

The money available for borrowing; the market wherein savers supply funds to borrowers, typically through financial intermediaries.

Interest Rates

The rate at which a borrower is charged interest for borrowing money from a lender.

Perpetuity

An annuity in which the periodic payments begin on a fixed date and continue indefinitely.