Benchmarking

question 143

Multiple Choice

Benchmarking

• A)compares the efficiency and effectiveness of your business processes against strict standards.
• B)allows industry participants to influence industry-wide standards.
• C)is used to measure the speed and responsiveness of information technology.
• D)synchronizes the business processes of customers,suppliers,and trading partners.

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Definitions:

Marginal Utility

The additional satisfaction or benefit a consumer receives from consuming one more unit of a good or service.

Newspaper

A publication, generally made of paper and ink, that is distributed on a regular or daily basis and contains news, articles, advertisements, and other information of public interest.

Marginal Utility

The supplementary contentment or value a shopper obtains by buying an extra unit of a certain item or service.

Total Utility

The overall satisfaction or value a consumer receives from consuming a given quantity of goods or services.