Which of the Five "Ps" of the Organization's Operations Focuses

question 26

Multiple Choice

Which of the five "Ps" of the organization's operations focuses on technology and workflow?

• A)People
• B)Plants
• C)Parts
• D)Processes
• E)Planning and control systems

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Definitions:

Monopoly Power

The exclusive control or possession of the supply or trade in a commodity or service, often eliminating competition.

Elastic

Describes a market condition where the quantity demanded or supplied of a good or service is sensitive to changes in its price.

Inelastic

Describes a situation in economics where the demand or supply for a good or service is not significantly altered when the price changes.

Inelastic Demand

A situation where the demand for a product does not change significantly when its price changes.