Match the Term with the Best Descriptor

question 10

Multiple Choice

Match the term with the best descriptor.
-refers to knowledge which can be recorded, archived, codified, or embedded into products

• A)project management
• B)process improvement
• C)brainstorming
• D)mental imaging
• E)nominal group technique
• F)force field analysis
• G)affinity diagram
• H)Pareto chart
• I)tacit knowledge
• J)explicit knowledge
• K)flowchart

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Definitions:

Resources

An input used to produce economic goods. Land, labor, skills, natural resources, and human-made tools and equipment provide examples. Throughout history, people have struggled to transform available, but limited, resources into things they would like to have—economic goods.

Demand Falls

This occurs when there is a decrease in the desire or willingness of consumers to purchase a good at a given price, leading to potential shifts in the market equilibrium.

Economic Losses

Financial losses experienced by businesses or economies due to factors such as poor investments, natural disasters, or reduced consumer spending.

Pizza Suppliers

Businesses that supply pizza ingredients, equipment, or the pizza itself to consumers or other businesses.