An Organization's System of Inputs, Throughputs, and Outputs Requires the Internal-External

question 25

True/False

An organization's system of inputs, throughputs, and outputs requires the internal-external feedback loops.

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Definitions:

Substitute

a product or service that can be used in place of another to satisfy similar needs or desires.

Complement

Goods or services that, when used together, enhance each other's value to the consumer.

Income Increase

A rise in the amount of money received, especially on a regular basis, through work, investments, or business.

Inferior Good

A type of good for which demand decreases as the income of consumers increases, and vice versa.