t OR f: True False: Please identify which items are true by writing a T next to the item number and which are

false by writing an F next to the item number $(3$ points each$).$

$12.$ Business is a value$-$for$-$value exchange between two or more parties.

$13.$ Globalization helps supply chains expand distribution opportunities while lowering production

costs.

$14.$ The management measure of efficiency represents the degree to which resources were used in

organizational efforts.

$15.$ A value proposition is a capital intensive, low$-$customer contact arrangement where physical

outputs are concentrated and tracked in inventory.

$16.$ Concurrent Design occurs when each partner in the value$-$proposition design process works

together simultaneously.

$17.$ A project is a temporary endeavor undertaken to create a unique product, service, or

result.

$18.$ Cost is the most important performance dimension while time is the least important

performance dimension.

$19.$ The Critical Path in a PERT Network is always the longest path through the network.

$20.$ The management measure of effectiveness represents the extent to which organizational

goals were reached.

$21.$ The difference between the forecasted quantity and the actual quantity for a given time

period is known as the forecasting error

$22.$ Green Production accounts for the environmental and societal costs of high$-$volume

manufacturing, emphasizing local$-$living economies and closed$-$loop production.