Which of the Following Is an Example of a Product

question 32

Multiple Choice

Which of the following is an example of a product?

• A)a DVD or movie based on the life of a celebrity
• B)a haircut
• C)a day at Dream World theme park
• D)an SUV or family sedan
• E)All of the above.

Applying the theory of constraints and throughput accounting in operational decisions and productivity improvement.

Understand the main differences between modern and traditional approaches to cost management.

Comprehend the concept of business process re-engineering and its impact on cost and quality improvements.

Understand the basic concepts and types of e-commerce transactions.

---

Definitions:

Maximum Price

A price ceiling set by a government or regulatory body, above which a particular good or service cannot be sold.

Government

The governing body of a nation, state, or community which is responsible for making and enforcing laws and managing public resources and affairs.

Rationing Mechanism

a system or policy by which scarce goods or services are distributed.

Market Economies

Market economies are economic systems in which economic decisions and the pricing of goods and services are guided solely by the aggregate interactions of a country's citizens and businesses with minimal government intervention.