What Do Manufacturing Organizations and Service Organizations Have in Common

question 149

Multiple Choice

What do manufacturing organizations and service organizations have in common?

• A) Both types of organizations must obtain raw materials.
• B) Both types of organizations need to be concerned with scheduling.
• C) Both types of organizations should be concerned with quality and productivity.
• D) All of these
• E) Both types of organizations must obtain raw materials and need to be concerned with scheduling

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Definitions:

Concentration Ratios

Measures indicating the market share of the largest firms within an industry, used to assess the degree of market concentration and competition.

Shortcomings

Deficiencies or weaknesses in a plan, system, or personal characteristic that prevent achieving optimal performance or results.

Cutthroat Oligopolist

A firm in an oligopoly market structure that aggressively competes on price, often to the detriment of profit margins.

Prices

The amount of money required to purchase goods or services, determined by factors like supply and demand, production costs, and competition.