Katrina Is Part of a Committee That Must Decide Whether

question 50

Multiple Choice

Katrina is part of a committee that must decide whether the company should adopt a new technology. Katrina's task is to compare the proposed technology to the technology that other companies in her industry use. This task is known as

• A)scanning.
• B)corporate espionage.
• C)auditing.
• D)a make-or-buy decision.
• E)benchmarking.

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Definitions:

Raw Materials

The basic materials from which products are made, typically extracted natural resources or agricultural products.

Circular Flow Model

An economic model depicting how money moves through the economy between producers and consumers.

Resource Market

A market where resources or inputs needed for production, such as labor, capital, and raw materials, are bought and sold.

Injection

An introduction of income into the economy through investment, government spending, or exports.