Optimized Production Technology (OPT) Was Introduced by Eli ____________________

question 106

Multiple Choice

Optimized production technology (OPT) was introduced by Eli ____________________.

• A) Goldratt
• B) Manning
• C) Jefferson
• D) Rosenblatt
• E) Strasburg

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Definitions:

Goods and Services

Physical items (goods) and intangible benefits (services) that fulfill human wants or needs.

Factors of Production

Resources used in the production of goods and services, traditionally categorized as land, labor, capital, and entrepreneurship.

Circular-Flow Diagram

An illustrative depiction of the economy, highlighting the movement of currency among firms and households within different markets.

Goods and Services

Products and activities that fulfill the needs or desires of consumers, with goods being tangible objects and services being intangible activities.