Examlex

Solved

Which of the Following Is a Key Component of Output

question 6

Multiple Choice

Which of the following is a key component of output in the input-process-output model?


Definitions:

Goods and Services

The output of an economy or a firm that consists of tangible commodities (goods) and intangible activities (services) offered to satisfy consumer needs.

Subjective Concept

An idea or notion based on personal opinions, interpretations, points of view, emotions, and judgment.

Objective Concept

An idea or notion that is based on factual and observable phenomena, unbiased by personal feelings or interpretations.

Personal Preferences

The specific likes, dislikes, desires, and interests of an individual, often influencing their purchasing decisions.

Related Questions