In Rapidly Changing Industries or Those Where Purchased Goods and Services

question 46

Multiple Choice

In rapidly changing industries or those where purchased goods and services comprise a _____ portion of product or service costs, management usually recognizes the need to place purchasing in a _____ position in the organizational hierarchy.

• A)smaller….higher
• B)larger….lower
• C)larger….higher
• D)median….lower
• E)There is no relationship between the level of purchases and the placement of purchasing in the organizational hierarchy.

---

Definitions:

Poverty

The state of having insufficient financial resources to meet basic living expenses, such as food, shelter, and healthcare.

Poverty Threshold

The annual income below which a family is officially considered poor.

Technological Progress

It denotes advancements and improvements in technology, which enhance productivity and efficiency in various sectors.

Income Inequality

The unequal distribution of income among individuals or groups within a society.