What Is Something That a One-Hour Photo Shop, a Drive-Up

question 63

Multiple Choice

What is something that a one-hour photo shop, a drive-up window at a fast food restaurant, and a vending machine all have in common?

• A) All are examples of merchant wholesale operations.
• B) They distribute goods without being part of a supply chain.
• C) They provide time utility.
• D) They deliver utility but don't themselves create any new utility.

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Definitions:

Duty of Obedience

The obligation of an organization's directors, officers, and agents to follow the organization's mission, abide by its rules, and ensure its activities comply with legal and ethical standards.

Apparent Authority

The appearance or implication of an individual's authority to act on behalf of an organization, leading others to reasonably believe in the legitimacy of the actions.

Fiduciary Duty

A legal obligation of one party to act in the best interest of another. Typically, a fiduciary is responsible for managing the assets of another person or of a group of people.

Secret Profit

Financial gain obtained secretly and unethically as a result of one's position or through the exploitation of confidential information.