__________ Is/are the Technology Used to Transform Inputs into Outputs

question 78

Multiple Choice

__________ is/are the technology used to transform inputs into outputs.

• A)Physical Resources
• B)Management Tools
• C)System Process
• D)Human Resources

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Definitions:

Total Costs

The full price of manufacturing, which includes both constant and fluctuating expenses.

Labor Cost

The total expenditure incurred by a company to pay its employees, including wages, benefits, and taxes.

Total Cost Ratio

Represents the sum of all costs (fixed and variable) associated with production, expressed as a ratio over a specific period.

Elasticity

An economic measure of the responsiveness of the quantity demanded or supplied of a good or service to changes in its price or consumer income.