What Is the Meaning of "Operations Control

question 179

Multiple Choice

What is the meaning of "operations control"?

• A) Planning and organizing the flow of materials
• B) Purchasing the right raw materials, in the right quantity, at the right price, and at the right time
• C) Checking to ensure that production decisions are being implemented
• D) Stocking items needed for production that are themselves produced within the firm
• E) Monitoring production performance by comparing results with plans and schedules

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Definitions:

Exchange Rates

The rate at which one currency can be exchanged for another, influencing international trade and economics.

Monetary Policy

Actions taken by a central bank or financial authority to regulate the supply of money and interest rates in an economy to achieve macroeconomic objectives.

Foreign Exchange Reserves

Assets held by central banks in foreign currencies, used to back liabilities on their own currency as well as to influence monetary policy.

Fixed Exchange Rate

A system where the government or central bank sets the official exchange rate in relation to the currency of another nation or the value of gold.