Which of the Following Relates to the Conceptual Anchor That

question 82

Multiple Choice

Which of the following relates to the conceptual anchor that organizations are open systems?

• A) The organization adjusts its services to satisfy changing consumer demand.
• B) The organization finds a substitute resource in anticipation of a future shortage of the resource previously used to manufacture the product.
• C) Production and sales employees coordinate their work activities to provide a more efficient work process.
• D) The organization changes its products to suit customer needs.
• E) All of the above.

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Definitions:

Producer Surplus

The difference between what producers are willing to receive for a good or service and the actual amount they receive, due to the market price being higher.

Fixed Costs

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance premiums.

Unavoidable Costs

Expenses that a company must pay regardless of its level of production or sales activity, also known as fixed costs.

Long Run Level

A period in economics where all inputs or production factors can be varied, and all costs are variable, allowing for full adjustment to changes.