Operations Management Includes Responsibility for

question 32

Multiple Choice

Operations management includes responsibility for

• A) customer service.
• B) inputs and outputs.
• C) product development.
• D) pricing.
• E) promotion.

Analyze the economic theories and strategies influencing international trade and business decisions.

Understand the role of government policies in shaping domestic and international trade environments.

Evaluate the influence of income distribution and consumption patterns on national economies.

Recognize the implications of first-mover advantages in global market entries.

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Definitions:

Commission

A fee paid to an agent or employee for facilitating a sale or for performing a service.

Profit

The financial gain obtained when the revenues earned from business activities exceed the expenses, taxes, and costs associated with sustaining the activity.

Consent

Permission or assent to conduct that would otherwise constitute a tort such as assault and battery; can be expressed or implied; informed consent constitutes a defence to torts such as assault and battery.

Purchasing Agent

A professional responsible for acquiring goods or services for their employer through negotiating price and terms.