Explain what values are and provide an example of a value. Values help us determine whether we see something as having worth. Thus, we determine the worth of people’s actions and ideas. Potential examples include: a college student may value an education. A romantic couple may value the advice of a priest, minister, rabbi, or imam.
What will be an ideal response?
In essence, our values tell us what is right and what is wrong.
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Natural resources are assets that include standing timber, mineral deposits, and oil and gas fields.
Answer the following statement true (T) or false (F)
In operations management, _____ means using resources to create value by providing customers with goods and services that offer a better relationship between price and perceived benefits.
A. effectiveness B. efficiency C. throughput D. productivity
Stephen wants to give his niece, Dawn, a piece of jewelry as a gift. Stephen gives Tracy, his agent, the bracelet to take to Dawn. The delivery element of making a gift has been completed
Indicate whether the statement is true or false
Which of the following is NOT an item to be considered in BOP calculations?
A) A foreign resident purchases a U.S. Treasury Bill. B) A U.S.-based firm manages the development of an oil field in Kazakhstan. C) A consumer buys a VCR made in Korea from a Florida Wal-Mart store. D) A U.S. citizen living in Minnesota travels to Winnipeg, Canada, and buys a case of LaBatt's Canadian beer.