In the Service Industry It Is Considered Good Performance When

question 121

Multiple Choice

In the service industry it is considered good performance when a company has an inventory loss of only:

• A) 1%
• B) 2%
• C) 3%
• D) 4%
• E) 5%

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Definitions:

Society Wants

The collective desires and needs of a society or community.

Creative Destruction

An economic concept where innovation destroys old products, services, or processes to make way for new ones, driving economic development.

Market System

An economic system where decisions regarding investment, production, and distribution are based on supply and demand, guiding the allocation of resources through the price mechanism.

Entrepreneurship

The process of designing, launching, and running a new business, which initially is a small business offering a product, process, or service for sale or hire.