The Goal of an ERP System Is to

question 63

Multiple Choice

The goal of an ERP system is to

• A)reduce waste and inefficiency in the production process.
• B)integrate all data from the company's many business processes into a single information system.
• C)establish the direction in which an organization wishes to go.
• D)monitor day-to-day operations to ensure that processes are operating as expected.

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Definitions:

Consumer Equilibrium

A state where an individual consumer has optimized their utility, given their budget constraints, choosing the best possible goods or service mix.

Budget Constraint

The limits placed on the consumption choices of individuals by their income and the prices of goods and services.

Utility

An indicator of pleasure or contentment obtained from the acquisition and use of products and services.

Utils

A theoretical unit of measurement used in economics to quantify the amount of utility or satisfaction derived from consuming goods and services.