Counteracting Forces That Impact Economic

Please Review the following questions Multiple Choice1. Value can be added to an entity in all the following ways, EXCEPT:a) Alteringb) Storingc) Facilitating d) Transporting2. What are the two counteracting forces that impact economic offerings?a) Customization and commoditizationb) Standardization and naturalization c) Extraction and deliveryd) Experience and services3. Which of the following is not considered a characteristic of a service?a) Intangibleb) Labor-intense productionc) Delayed consumptiond) Quality difficult to measure4. A distinction between physical and information outputs is thata) Physical outputs wear out, but information outputs do notb) Physical outputs exist in a single location, whereas information outputs can exist in multiple locationsc) Information outputs are subject to diminishing returns, but physical outputs are subject to increasing returnsd) Both A and B5. Inputs in a bank’s production system may include:a) Loan default rates and the environment b) Checks and deposits c) Interest rates and wage ratesd) Federal Reserve decisions and the economy6. A purposeful collection of people, objects, and procedures for operating within an environment is known as a(n):a) Operationb) Systemc) Sub-systemd) Sub-operation7. A type of output that commonly results from a production system is:a) A productb) A servicec) Both A