Operations Managers

question 17

Multiple Choice

Operations managers:

• A)control about three-fourths of firm's assets
• B)work closely with people in marketing, finance, accounting, and human resources departments
• C)help to decide which products the company should produce
• D)face the challenge of combining people and other resources to produce high-quality products
• E)are accurately described by all of the above

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Definitions:

Electrical Machinery

Equipment and devices powered by electricity that are used in various applications, including manufacturing, power generation, and domestic appliances.

Price Fixing

Price fixing is an agreement among competitors to set prices of goods or services at a certain level, often illegally, to minimize competition.

Oligopolies

Market structures in which a few firms dominate the industry, often leading to limited competition and higher prices for consumers.

Outright Collusion

An openly cooperative effort among competitors to manipulate market prices, limit competition, or divide markets among themselves illegally.