BADM 101 - FINAL EXAM AND UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS
Question:
1. operations management
Answer:
all the activities required to produce goods and services
Question:
2. reshoring
Answer:
a situation in which U.S. manufacturers bring manufacturing jobs back to the
United States
Question:
3. mass production
Answer:
a manufacturing process that lowers the cost required to produce a large number
of identical or similar products over a long period of time
Question:
4. analytical process
Answer:
a process in operations management in which raw materials are broken into
different component parts
Question:
5. synthetic process
Answer:
a process in operations management in which raw materials or components are
combined to create a finished product
Question:
6. utility
Answer:
the ability of a good or service to satisfy a human need
, Question:
7. Four types of utility
Answer:
form, place, time, possession
Question:
8. form utility
Answer:
utility created by people converting raw materials, finances, and information into
finished products
Question:
9. service economy
Answer:
an economy in which more effort is devoted to the production of services than to
the production of goods
Question:
10. research and development (R&D)
Answer:
a set of activities intended to identify new ideas that have the potential to result in
new goods and services
Question:
11. basic research
Answer:
consists of activities aimed at uncovering new knowledge
Question:
12. applied research
Answer:
consists of activities geared toward discovering new knowledge with some
potential use
Question:
13. Development and implementation
Answer:
involves research activities undertaken specifically to put new or existing
knowledge to use in producing goods and services
QUESTIONS AND CORRECT ANSWERS
Question:
1. operations management
Answer:
all the activities required to produce goods and services
Question:
2. reshoring
Answer:
a situation in which U.S. manufacturers bring manufacturing jobs back to the
United States
Question:
3. mass production
Answer:
a manufacturing process that lowers the cost required to produce a large number
of identical or similar products over a long period of time
Question:
4. analytical process
Answer:
a process in operations management in which raw materials are broken into
different component parts
Question:
5. synthetic process
Answer:
a process in operations management in which raw materials or components are
combined to create a finished product
Question:
6. utility
Answer:
the ability of a good or service to satisfy a human need
, Question:
7. Four types of utility
Answer:
form, place, time, possession
Question:
8. form utility
Answer:
utility created by people converting raw materials, finances, and information into
finished products
Question:
9. service economy
Answer:
an economy in which more effort is devoted to the production of services than to
the production of goods
Question:
10. research and development (R&D)
Answer:
a set of activities intended to identify new ideas that have the potential to result in
new goods and services
Question:
11. basic research
Answer:
consists of activities aimed at uncovering new knowledge
Question:
12. applied research
Answer:
consists of activities geared toward discovering new knowledge with some
potential use
Question:
13. Development and implementation
Answer:
involves research activities undertaken specifically to put new or existing
knowledge to use in producing goods and services
