Three of the Four Types of Processes Are

question 241

Multiple Choice

Three of the four types of processes are:

• A) goods, services, and hybrids.
• B) manual, automated, and service.
• C) process focus, repetitive focus, and product focus.
• D) modular, continuous, and technological.
• E) input, transformation, and output.

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Definitions:

Export Subsidy

A government payment to a domestic producer to enable the firm to reduce the price of a good or service to foreign buyers.

Policy Action

Any action taken by a government or public authority to influence economic or social outcomes.

Domestic Exporters

Firms that produce goods within a country and sell them in foreign markets.

Maximum-Output Alternatives

Options within a production process that result in the highest level of output, utilizing resources to their fullest potential.