An Enterprise Resource Planning (ERP)is a ________

question 80

Multiple Choice

An enterprise resource planning (ERP) is a ________.

• A) hardware system that controls the access of employees to different levels of production in a firm
• B) software system used by small companies to record revenue and expenses
• C) hardware system of electronic linkages that allows different computers to share the same information
• D) software system that can integrate all of a company's functions, departments, and data into a single system

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Definitions:

Elastic Demand

A situation in which the quantity demanded of a good or service is highly responsive to changes in its price.

Price Cut

A reduction in the selling price of goods or services, usually aimed at increasing demand or facing competition.

Elastic Demand

An instance where the demand for a product exhibits substantial sensitivity to adjustments in its pricing.

Price Rise

An increase in the cost of goods or services, often due to factors such as inflation, demand surges, or production costs.