Operations Management (AS Level)
Quiz
•
Business
•
11th Grade
•
Practice Problem
•
Easy
Niall Clark
Used 3+ times
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25 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
20 sec • 4 pts
What is capacity utilization?
Answer explanation
Capacity utilization measures how efficiently a business uses its resources relative to maximum capacity.
2.
MULTIPLE CHOICE QUESTION
20 sec • 4 pts
Which method manages inventory with minimal stock levels?
Answer explanation
JIT minimizes inventory levels by ordering goods only when needed, reducing storage costs.
3.
MULTIPLE CHOICE QUESTION
20 sec • 4 pts
What is a key benefit of adopting sustainable practices for a business?
Higher short-term profits
Improved brand reputation and customer loyalty
Increased waste and resource costs
Reduced employee satisfaction
Answer explanation
Adopting sustainable practices enhances a business's brand reputation, builds customer loyalty, and attracts socially responsible investors. It also helps businesses lower long-term costs by optimizing resources and reducing waste
4.
MULTIPLE CHOICE QUESTION
20 sec • 4 pts
What is the Economic Order Quantity (EOQ)?
Answer explanation
EOQ minimizes both holding and ordering costs by determining the optimal inventory level.
5.
MULTIPLE CHOICE QUESTION
20 sec • 4 pts
What does "added value" mean in business?
Answer explanation
Added value is the enhancement a business adds to raw materials through production, reflected in the final selling price.
6.
MULTIPLE CHOICE QUESTION
20 sec • 4 pts
What happens when a business operates at maximum capacity?
Answer explanation
Operating at maximum capacity spreads fixed costs over more units, reducing per-unit costs.
7.
MULTIPLE CHOICE QUESTION
20 sec • 4 pts
Which inventory system minimizes the risk of obsolescence?
Answer explanation
JIT minimizes inventory levels, reducing the likelihood of items becoming obsolete.
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