All of the Following Are Tools Frequently Used in Business

question 34

Multiple Choice

All of the following are tools frequently used in business process management except:

• A) Information technology
• B) Systems documentation
• C) Activity-based management
• D) COSO frameworks

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Definitions:

Price Elasticity

A measure in economics of how much the quantity demanded of a good responds to a change in the price of that good.

Raise Profits

Strategies or actions taken by businesses to increase their net earnings or margin.

Inverse Demand Curve

A graph illustrating the relationship between price and quantity demanded, showing price on the Y-axis and quantity on the X-axis, essentially reversing the axes of a standard demand curve.

Marginal Costs

The increase in the full cost incurred by generating an additional unit of a product or service.