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Explain the Role of Consumer Behavior in Business and Society

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Explain the role of consumer behavior in business and society.


Definitions:

Work-in-process Inventory

Items that are in the process of being produced but are not yet finished goods in manufacturing.

Maintenance

The process of preserving the condition of tools, machines, buildings, and other physical assets through routine upkeep and repairs.

Repair

The process of fixing or restoring something that is broken or damaged.

Operations

The day-to-day activities involved in running a business, including production, logistics, and distribution.

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