If Price and Demand Do Vary Over Time in a Global

question 9

Multiple Choice

If price and demand do vary over time in a global network,

• A) flexible production capacity should not be used in the new environment.
• B) flexible production capacity will be ineffective in the new environment.
• C) flexible production capacity can be reconfigured to minimize profits in the new environment.
• D) flexible production capacity can be reconfigured to maximize profits in the new environment.
• E) flexible production capacity should never be used in an uncertain environment.

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Definitions:

Differential Threshold

The minimum difference in stimulation required to detect a change in sensory input, also known as the just noticeable difference (JND).

Absolute Threshold

The minimum intensity of a stimulus that one can detect 50% of the time, indicating the sensory system's sensitivity.

Need for Touch

An individual's preference for tactile input and physical contact in the process of evaluating and purchasing products.

Branding

The process of creating a unique name, design, and image for a product or service, making it distinguishable from others in the market.