Enterprise Resource Planning ____________ All Departments and Functions Through an Organization

question 14

Short Answer

Enterprise resource planning ____________ all departments and functions through an organization into a single IT system so that employees can make enterprise wide decisions by viewing enterprise wide information on all business operations.

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Definitions:

Total Revenue

The total amount of money a firm receives from sales of its goods or services, calculated as the price per unit times the number of units sold.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price over a specified period of time.

Market Period

A very short duration in economics during which the supply of a good is fixed and cannot be adjusted in response to changes in demand.

Long Run

The long run is a period of time in economics where all inputs and factors of production can be varied, allowing companies to adjust all their resources.