Three Types of Processes Are

question 58

Multiple Choice

Three types of processes are

• A) goods, services, and hybrids
• B) manual, automated, and service
• C) process focus, repetitive focus, and product focus
• D) modular, continuous, and technological
• E) input, transformation, and output

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Definitions:

Opportunity Cost

The cost of choosing one option over another, typically represented by the benefits that could have been gained by choosing the alternative.

Depletable Resource

A natural resource that can be diminished or exhausted by use, such as fossil fuels, minerals, or forests.

Extraction Cost

The expenses associated with the removal of raw materials from their natural setting for use or sale.

Non-Monetary Benefits

Advantages or perks associated with a job or situation that are not in the form of money, such as health insurance or flexible working hours.