Procedures for operating within an environment is known

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1. A purposeful collection of people, objects, and procedures for operating within an environment is known as a(n):

a) Operation

b) Sub-system

c) System

d) Sub-operation

2. A distinction between normal goods and information/knowledge is that

a) Normal goods wear out, but information/knowledge does not

b) Information/knowledge can be given or sold to many others

c) Information/knowledge is subject to diminishing returns, but physical outputs are subject to increasing returns

d) Both A and B

3. Which of the following uses techniques from Toyota Production System and JIT to eliminate waste and non-value-added activities?

a) Enterprise and material requirements planning

b) Lean Management

c) Quality Control

d) Capacity Management

4. Which of the following methods covered this semester is also a valid method for evaluating transportation carriers?

a newsvendor model

b cost profit volume analysis

c Weighted average method

d auction

Reference no: EM132262606

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