Scenario - Larry Slaton

question 4

Multiple Choice

Scenario - Larry Slaton
Larry Slaton is an executive with InfoTech Productions.This morning,Larry has been attending a top management meeting exploring the potential value of using a new computer system at InfoTech.The executive team has reached a consensus opinion that the new system should be able to increase the effectiveness and the efficiency of operations and services.Larry has been assigned to work directly with computer system vendors and to develop the best system for InfoTech.
-InfoTech's new computer system,which will be used for inventory management,fits into which component of the company's value chain?

• A)Input
• B)Products and facilities
• C)Structure
• D)Control processes
• E)Output

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Definitions:

Point Elasticity

A measure of elasticity that uses the slope measurement.

Slope Measurement

The rate at which a line or curve inclines or declines, indicating the relationship between changes in variables on a graph.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, often influencing pricing strategies.

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded by consumers.