Which of the Following Is an Example of a Structured

question 4

Multiple Choice

Which of the following is an example of a structured process?

• A) deciding on the location of a new store
• B) solving the problem of excessive product returns
• C) purchasing the right amount of raw materials
• D) using social media to create buzz about a new product

---

Definitions:

Total Utility

The total satisfaction or benefit received by consuming a given total quantity of a good or service.

Marginal Utility

The additional utility derived from consuming one more unit of some good or service.

Consumer Surplus

The difference between the amount consumers are willing to pay for a good or service versus what they actually pay.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of the good that consumers are willing and able to purchase at various prices.