Process Redesign

question 52

Multiple Choice

Process redesign

• A) is the fundamental rethinking of business processes
• B) can focus on any process
• C) tries to bring about dramatic improvements in performance
• D) focuses on activities that cross functional lines
• E) all of the above

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Definitions:

Marginal Revenue

The additional income earned from the sale of one more unit of a product or service.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good consumers are willing and able to purchase at various prices.

Total Revenue

Total Revenue is the total amount of money received by a company from its sales of goods or services, before any expenses are subtracted.

Marginal Cost

The increase in total cost that arises from producing one additional unit of a product.