In the ________ Approach, a Company Implements a Standard ERP

question 37

Multiple Choice

In the ________ approach, a company implements a standard ERP package, using the package's built-in configuration options.

• A) Best-of-breed
• B) Chocolate
• C) Custom
• D) Vanilla

---

Definitions:

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded.

Shortage

A situation in which demand for a good or service exceeds its supply in a market.

Demand And Supply

Economic model describing the interaction between the desire of consumers to buy goods at certain prices and the quantity of goods that producers are willing to sell at those prices.

Factors Of Production

Four basic inputs for effective operation: land, labor, capital, and entrepreneurship.