An Enterprise Resource Planning System (ERP)________

question 164

Multiple Choice

An Enterprise Resource Planning system (ERP) ________.

• A) is a cost management system in which a company produces products just in time to satisfy needs
• B) requires the implementation of Total Quality Management
• C) integrates all worldwide functions, departments, and data of a company into a single system
• D) cannot be implemented in service companies

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Definitions:

Producer Surplus

The difference between the amount producers are willing to sell a good for and the amount they actually receive.

Tariff

A tax imposed by a government on goods and services imported from other countries to protect domestic industries.

Sugar

A sweet-tasting, soluble carbohydrate found in many plants and used as a sweetener in food and beverages.

Price Elasticity

A gauge of the degree to which demand for a merchandise reacts to alterations in its price, showing how susceptible the amount demanded is to changes in price.