Constraints Refer to

question 180

Multiple Choice

Constraints refer to

• A)in a decision, the restrictions placed on potential solutions to a problem.
• B)in a decision, the number of possible alternatives in a company's solution set.
• C)in a decision, the external factors affecting the number of people who can work on a solution to a problem.
• D)in a decision, the internal factors affecting whether to select one alternative over another.
• E)in a decision, the internal factors determining who in the organization ultimate selects the best solution to a problem.

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Definitions:

Marginal Product

The additional output resulting from the use of one more unit of a production input, holding other inputs constant.

Labor

The human effort, including physical and mental skills, employed in the production of goods and services within an economy.

Demand

The desire accompanied by the ability to pay for goods or services, determining the quantity that will be bought at a given price level.

Marginal Revenue Product

The additional revenue generated from the sale of one more unit of a good or service produced as the result of one more unit of an input.