Operations Management, 1e (Mcgraw-hill Education Operations and Decision Sciences) 1st Edition Test Bank

Operations Management, 1e (Mcgraw-hill Education Operations and Decision Sciences) 1st Edition Test Bank simplifies tough topics and provides all the necessary study resources for a stress-free exam.

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1-1Copyright © 2016 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consentofMcGraw-Hill Education.Chapter 01 Test Bank KEY1. Supply is a set of products or services a business offers to its customers.TRUESupply is a set of products or services a business offers to its customers.AACSB: Analytical ThinkingAccessibility: Keyboard NavigationBlooms: RememberDifficulty: 1 EasyGradable: automaticLearning Objective: 01-01 Identify the drivers of customer utility.Topic: The Customers View of the World2. Consumption utility is composed of price andconvenience.FALSEConsumption utility is composed of performance and fit.AACSB: Analytical ThinkingAccessibility: Keyboard NavigationBlooms: RememberDifficulty: 1 EasyGradable: automaticLearning Objective: 01-01 Identify the drivers of customer utility.Topic: The Customers View of the World3. Firm A Pareto dominates firm B means that firm A’s product or service is inferior to that offirm B on all dimensions of the customer utility function.FALSEFirm A Pareto dominates firm B means that firm A’s product or service is superior to that of firmB on all dimensions of the customer utility function.AACSB: Analytical ThinkingAccessibility: Keyboard NavigationBlooms: RememberDifficulty: 1 EasyGradable: automaticLearning Objective: 01-02 Explain inefficiencies and determine if a firm is on the efficient frontier.Topic: A Firms Strategic Trade-Offs4. A firm reduces inefficiencies by making trade-offs.FALSEA firm reduces inefficiencies so that it does not have to sacrifice oneperformance dimensionversus another.AACSB: Analytical Thinking

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Operations Management, (Mcgraw-Hill...

Operations Management, 1e (Mcgraw-hill Education Operations and Decision Sciences) 1st Edition Test Bank

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