Determining Costs Can Be Extremely Difficult for a Service Provider

question 156

Multiple Choice

Determining costs can be extremely difficult for a service provider who has adopted a(n) _____ pricing objective and may limit the usefulness of the objective.

• A) market-share-oriented
• B) operations-oriented
• C) revenue-oriented
• D) patronage-oriented
• E) break-even

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Definitions:

Technology

The application of scientific knowledge for practical purposes, especially in industry and the development of devices, processes, or systems.

Labour Productivity

An indicator of economic effectiveness that evaluates the quantity of goods and services generated relative to the total hours labor contributes.

Production

The process of creating goods and services through the combination of labor, materials, and machinery.

Shift

This term often refers to the work period in a day during which employees are scheduled to work, commonly occurring in rotations in a 24-hour operational setting.