A High Value for Which of the Following Signals That

question 41

Multiple Choice

A high value for which of the following signals that an operations manager is excelling?

• A) efficiency
• B) utilization
• C) effective capacity
• D) net present value
• E) design capacity

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Definitions:

Dollar Votes

The concept that consumers "vote" for the products they prefer through the dollars they spend.

Consumer Sovereignty

The concept that consumers have the ultimate control over what goods and services are produced by choosing what to purchase with their money.

Economically Most Efficient

A situation or method that yields the maximum output without wasting resources.

Labor And Capital

The two primary factors of production; labor represents human contribution, while capital includes tools, equipment, and technology used in production.