For Many Companies, Cost Reductions Have Been Attained by All

question 37

Multiple Choice

For many companies, cost reductions have been attained by all of the following except ________.

• A) Locating a facility abroad
• B) Securing raw material abroad
• C) Manufacturing suppliers in foreign markets
• D) Bringing foreign production to domestic locations
• E) None of the above

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Definitions:

Technology

The use of scientific understanding to achieve practical goals, particularly within industrial sectors.

Supply Schedule

A chart that illustrates the correlation between a product's price and the amount available for sale.

Inputs Prices

The prices of the resources used in the production process, including labor, raw materials, and capital.

Production Technology

The combination of techniques, machinery, and processes used in the production of goods and services.