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IDENTIFICATION/TRUE OR FALSE

1. The management of systems or processes that create goods and/or provide services *

2. Physical items that include raw materials, parts, subassemblies, and final products *

3. Activities that provide some combination of time, location, form or psychological value. *

4. The difference between the cost of inputs and the value or price of outputs *

5. One or more actions that transform inputs into outputs *

6. The time between ordering a good or service and receiving it *

7. One difference between a good and a service is that services are often produced and consumed simultaneously *

TRUE

FALSE

8. The production function is NOT clearly visible to the customer in the operations of both goods and services producers. *

TRUE

FALSE

9. Some service providers have no operations function. *

TRUE

FALSE

10. An essential function of management that generates demand *