Global Standardization of Operations

question 55

Multiple Choice

Global standardization of operations

• A) eliminates the task of maintenance and production control.
• B) allows home office personnel to quickly spot deviations from the norm.
• C) enables reasonably accurate forecasts of time required to obtain permits and erect plants.
• D) enables subsidiaries to respond effectively to demands of host country governments.

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Definitions:

Money Income

The total amount of monetary earnings or receipts received by an individual or household from various sources before taxes.

Utility-Maximizing

Utility-maximizing is a principle in economics where individuals or entities choose the options that provide the highest satisfaction or utility from the available choices, given their preferences and constraints.

Substitute Goods

Products or services that can be used in place of each other. When the price of one falls, the demand for the other product falls; conversely, when the price of one product rises, the demand for the other product rises.

Consumer Behavior

The analysis of how consumers' preferences and economic decisions affect the demand for goods and services.