According to the Textbook,it Is Useful to Think of the Firm

question 66

Multiple Choice

According to the textbook,it is useful to think of the firm as a(n) __________ composed of a series of distinct activities,including production,marketing,materials management,R&D,human resources,information systems,and the firm infrastructure.

• A) functional stream
• B) momentum machine
• C) inertia chain
• D) value chain
• E) business chain

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Definitions:

Enterprise Success

The achievement of desired business outcomes, such as profitability, growth, market share, or innovation, by a company or business enterprise.

Soviet Union

A former federal socialist state in the northern Eurasia that existed from 1922 to 1991, composed of multiple republics, with Moscow as its capital.

Quantity of Output

The total amount of goods or services produced by a firm or industry during a specific time period.

Surplus Supply

A situation where the quantity of a good or service supplied in a market exceeds the quantity demanded at the current price.