Capacity Constraints in the Service Industry Can Take the Form

question 4

Multiple Choice

Capacity constraints in the service industry can take the form of ______

• A)shortage of customer orders
• B)shortage of skilled workers
• C)excess capacity
• D)idle resources

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Definitions:

Norway

Norway is a Nordic country located in Northern Europe, known for its extensive coastline, mountainous terrain, and significant oil reserves, which is one of the world's wealthiest nations per capita.

Socialist

refers to a political and economic theory of social organization which advocates for the means of production, distribution, and exchange to be owned or regulated by the community as a whole.

Price Mechanism

The way in which prices rise and fall to balance supply and demand, allocating resources efficiently in a market economy.

Competing Firms

are companies operating in the same industry or market that offer similar products or services to consumers.