Which of These Statements About Recent Trends in Operations and Supply

question 10

Multiple Choice

Which of these statements about recent trends in operations and supply chain management is BEST?

• A)A lower level of competition exists thanks to an increased level of globalization.
• B)The rate of change in markets is actually lower than 10-15 years ago once inflation is factored in.
• C)More companies are putting an emphasis on relationship management.
• D)Customers demand increased standardization in goods and services.

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Definitions:

Money Income

The total amount of monetary earnings or receipts a person or household receives within a specific period.

Utility-Maximizing

The behavior or principle where individuals or entities choose options that increase their satisfaction or utility to the greatest extent.

Marginal Utility

The additional satisfaction gained from consuming an additional unit of a good or service.

Hypothetical Consumer

A theoretical or model consumer whose purchasing decisions and behavior are used to analyze the demand side of the market.