Test Bank For Operations Management 3rd Edition By Gerard Cachon, Christian Terwiesch Chapter 1-20Answers are at the End of Each Chapter Chapter 1
Student name:__________ TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false. 1) Supply is the set of products or services a business offers to its customers. ⊚ true ⊚ false 2) Consumption utility is composed of price and convenience. ⊚ true ⊚ false 3) "Firm A Pareto dominates firm B" means that firm A’s product or service is inferior to that of
firm B on all dimensions of the customer utility function. ⊚ true ⊚ false 4) A firm must make trade-offs because no single company can excel at everything. ⊚ true ⊚ false 5) Reducing inefficiencies will increase a firm’s profitability. ⊚ true ⊚ false 6) Every work requires operations. ⊚ true ⊚ false 7) "Who are the customers?" is a key question in operations management. ⊚ true ⊚ false