All of the Following Statements Regarding ERP Systems Are True

question 29

Multiple Choice

All of the following statements regarding ERP systems are true except:

• A)They are relatively inexpensive.
• B)They provide real-time information.
• C)They can be used by both manufacturing and service companies.
• D)They do not guarantee increased profits.
• E)None of the above.

---

Definitions:

Absolute Advantage

The ability of a country to produce a good at a lower cost than its trading partners.

Protective Tariffs

Taxes imposed on imported goods to protect domestic industries from foreign competition by making the imported goods more expensive compared to local products.

Trade Deficit

A situation where a country’s imports exceed its exports during a given time period, leading to a negative balance of trade.

Capital

All means of production (mainly plant and equipment) created by people.