Referring to the Product-Process Matrix,if a Company Has a Few

question 20

Multiple Choice

Referring to the product-process matrix,if a company has a few major products with high demand and a jumbled flow (job shop) process,we know the company:

• A)Has a company strategy
• B)Is on the diagonal of the matrix
• C)Is further in its product life cycle than its process life cycle
• D)Is further in its process life cycle than its product life cycle

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Definitions:

Total Utility

The total satisfaction received from consuming a particular quantity of a good or service.

Incentives

Rewards or penalties that influence the motivation and behaviors of individuals and organizations towards certain actions.

Minimum-Wage Laws

A law that establishes the minimum hourly wage employers are legally allowed to pay their employees.

Labor Demand

The total amount of workers that employers are willing and able to hire at a given wage rate in an economy or specific market.