1. Home electronics are often introduced using a skimming pricing strategy.

A. True

B. False

2. The use of consignment selling is commonly used in the United States; however, using this method of financing is extremely risky in international sales

A. True

B. False

3. Small business owners can increase the productivity of their business by:

A. Increasing outputs and decreasing inputs

B. Increasing outputs

C. Decreasing outputs and increasing inputs

D. Decreasing inputs

4. A business using the SCI to evaluate location sites looks for an SCI of:

A. 20

B. 30

C. +100

D. -10

5.Mass customization is a process where products are produced on a mass basis and then sold to a variety of customers interested in that product

A. TRUE

B. FALSE

6. Necessary and luxury goods both tend to be price inelastic.

A. TRUE

B. FALSE

7.Feedback is the necessary written communication that links a control system to the other phases of operations management

A. TRUE

B. FALSE

8.The ____ approach to determining a company's worth involves the cost to recreate the operating assets of the business.

A. Liability-based

B. Asset-based

C. Market

D. Income

9. Adding intermediaries to the distribution channel usually increases the cost to the consumer

A. TRUE

B. FALSE

10. Efficiency, defined, is

A. Making a high profit with low expenses

B. Accomplishing goals and tasks while making the most of the resources available

C. doing all tasks the right way the first time

D. Using all available resources to produce a high amount of output.