According to the Theory of Constraints, Which of the Following

question 61

Multiple Choice

According to the theory of constraints, which of the following is not a step required to maximize and improve the performance of a value chain?

• A)Identify the constraint.
• B)Compare the constraints with industry averages.
• C)Decide how to exploit the constraint.
• D)Elevate the performance of the constraint.

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Definitions:

Taxi Demand

Refers to the consumer need for taxi services, which can vary based on factors like time, location, and price.

Regulated Fares

Fares for transportation or services that are controlled or set by a governing body to ensure fairness and accessibility.

Elastic Demand

A situation where the quantity demanded of a good or service is sensitive to changes in its price.

Total Revenue

The total income earned by a company from its sales of goods or services before any costs or expenses are subtracted.