Narrative 16-1 C&K Brewing Company Is a Microbrewery in Western Canada. It

question 60

Multiple Choice

Narrative 16-1
C&K Brewing Company is a microbrewery in western Canada. It produces Maiden's Honour brand ale, a dark beer called Warrior's Cry, and several seasonal beers under the brand name Hearthfire. Its owners George Claiborne and Pete Kunard both believe the brewery's competitive advantage comes from the duo having hired an experienced German brewmaster to oversee the production of its beers. The brewmaster checks all of the ingredients before they are mixed together to make sure that each component is of the highest possible quality and rejects those that are not. After the beer has brewed, the brewmaster runs several tests on the beer to check for taste and clarity and throws out barrels that are cloudy and/or bitter.
-Refer to the Narrative 16-1.Which type of control does the brewmaster use when he tests the beer to see how it tastes?

• A) simultaneous
• B) feedback
• C) concurrent
• D) reactive

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Definitions:

Risk-Averse

A descriptive term for an individual or entity that prefers to avoid risk and chooses certainty over uncertainty when making investment or financial decisions.

Insurance Premium

The amount of money that individuals or businesses must pay for an insurance policy, providing coverage against specific risks.

Expected Claims

An estimation of the amount and frequency of claims a company might expect within a certain period, often used in insurance and risk management.

Marginal Utility

is the additional satisfaction or utility a consumer receives from consuming an additional unit of a good or service.