Information Technology (IT)

question 65

Multiple Choice

Information Technology (IT)

• A) consists of the hardware and software throughout a supply chain that gather, analyze, and act on information.
• B) serves as the eyes and ears (and sometimes a portion of the brain) of management in a supply chain.
• C) can have a significant impact on a firm's performance.
• D) all of the above

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Definitions:

Market Prices

The current price at which a good or service can be bought or sold, determined by supply and demand dynamics in a competitive marketplace.

Market Baskets

A collection of goods and services used to represent consumption patterns for economic analysis.

Total Utility

The cumulative satisfaction or pleasure a consumer derives from consuming a certain quantity of goods and services.

Utility

An indicator of the joy or contentment a buyer experiences from the consumption of products and services.