Process Types in Operations Evolved Through Three 'Eras

question 1

Multiple Choice

Process types in operations evolved through three 'eras'. Mass production and the strategic era were the last two. What was the first?

• A) Concept era
• B) Early era
• C) Craft era
• D) Iron Age era

---

Definitions:

Oligopoly

A market structure characterized by a few companies controlling the majority of market share, which can lead to limited competition.

Perfect Competition

A market structure characterized by many buyers and sellers, homogeneous products, and free entry and exit, leading to an efficient allocation of resources.

Monopoly

A market structure characterized by a single seller controlling a large portion of the market, facing little to no competition.

U.S. Beer Industry

The sector within the United States that involves the production, distribution, and sale of beer.