An Opportunity Flow Diagram Is Used to Separate the Value-Added

question 44

True/False

An opportunity flow diagram is used to separate the value-added from the non-value-added steps in a process.

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Definitions:

Price Elasticity of Demand

A measure of how sensitive the quantity demanded of a good is to a change in its price.

Elastic

Refers to a market for a product or service that is price sensitive; that is, relatively small changes in price will generate fairly large changes in the quantity demanded.

Specific Brand

A particular brand that is identified by its unique name, symbol, or design, used to distinguish it from other brands within the same category.

Deodorant

A personal care product applied to the body to prevent or mask odor caused by the bacterial breakdown of perspiration.