Due to an Increase in the Usage of Information Technology

question 38

Multiple Choice

Due to an increase in the usage of information technology in the buying process:​

• A)​postsale services are reduced.
• B)order times are increased.
• C)​overall cycle times are increased.
• D)​shipping times are increased.
• E)​mistakes are minimized.

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Definitions:

Total Output

Total output refers to the total quantity of goods and services produced within an economy at a given time period, reflecting the aggregate production level.

Comparative Advantage

The ability of a country, individual, company, or region to produce a good or service at a lower opportunity cost than its competitors.

International Trade

The movement of goods and services across national boundaries or territories for trade purposes.

Heckscher-Ohlin Model

An economic theory that proposes that countries will export goods that make intensive use of the factors of production that they have in abundance.