Services and ideas are not considered products because they are intangible
Indicate whether the statement is true or false
a. True
b. False
ANSWER: False
To most people, the term product means a tangible good. However, services and ideas are also products.
You might also like to view...
Nina, a manager, is considering reducing the workforce to cut down on costs. She realizes that this decision will have a huge impact on her employees. In the context of making an ethical decision, this stage is known as
A. moral certainty. B. moral ability. C. moral awareness. D. moral judgment. E. moral characterization.
What is the increase in their EOQ if all of the model parameters (except the number of days in a year) double?
Kushie's Coffee in Bangalore is a quaint establishment nestled near MG Road in the central business district. It serves coffee and fruit cake to a clientele that has been enjoying these products for over fifty years. The demand for coffee beans is 6600 cases per year (each case has 24 ten-pound bags). It would be disastrous for them to run out of coffee, so they keep a safety stock of 30 cases. The cases cost $4800 and it costs $5 per case to order coffee. As coffee is a perishable product, the holding cost is fairly high at $40/case/year. The lead time to receive an order is seven days. Kushie's is open 300 days a year. A) 100% B) 33% C) 41% D) 50%