One of the Most Important Order-Winning Criteria for Service Firms

question 87

Multiple Choice

One of the most important order-winning criteria for service firms is ______.

• A)to operate at economies of scale
• B)to have customer convenience
• C)to have excess capacity available
• D)to have idle capacity

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Definitions:

Physical Capital

Tangible assets used in the production of goods and services, such as machinery, buildings, and equipment.

Production Possibilities Curve

A graph that shows the different quantities of two goods that an economy can produce using all of its resources efficiently.

Scarcity

Fundamental concept of economics that indicates that there is less of a good freely available than people would like.

Production Possibilities Curve

A graphical representation that shows the maximum combination of goods or services that can be produced with a fixed amount of resources.