The service sector has lower productivity improvements than the manufacturing sector because ___________.

The service sector has lower productivity improvements than the manufacturing sector because ___________.

 Options:

A. the service sector uses less skilled labor than manufacturing .
B. the quality of output is lower in services than manufacturing .
C. services usually are labor intensive .
D. service sector productivity is hard to measure .

The Correct Answer Is:

  • C. services usually are labor intensive .

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Financial markets improve economic welfare because

Financial markets improve economic welfare because

 Options:

A. they allow funds to move from those without productive investment opportunities to those who have such opportunities.
B. they allow consumers to time their purchases better.
C. they weed out inefficient firms.
D. they do (A) and (B) of the above.

The Correct Answer Is:

  • D. they do (A) and (B) of the above.

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An operations manager is not likely to be involved in

An operations manager is not likely to be involved in

 Options:

A. the design of products and services to satisfy customers’ wants and needs
B. the quality of products and services to satisfy customers’ wants and needs
C. the identification of customers’ wants and needs
D. work scheduling to meet the due dates promised to customers

The Correct Answer Is:

  • C. the identification of customers’ wants and needs

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