Operations Managers Are Responsible for Production,inventory,and Quality Control

question 41

True/False

Operations managers are responsible for production,inventory,and quality control.

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Definitions:

Demand Curve

A pictorial representation that maps out the correlation between a good's price and its demand over an allotted time.

Laws of Supply and Demand

Economic principles stating that the price of a good is directly related to its availability (supply) and the desire for it (demand), with high demand and low supply leading to high prices, and vice versa.

Price

The sum of money needed to buy a product, service, or asset.

Buyer

A person or organization that buys products or services for private use or consumption.