business 100 chapter 8 part 1

all activites managers engadge in to produce goods and services

a manufacturing process that lowers the cost required to produce a large number of identical or similar products over a long period of time

a process in operations managementb in which raw materials are broken into different component parts

a process in operations managment in which raw materials or components are combined to create a finished product

the ability of a good or service to satisfy a human need

utility created by people converting raw materials, finances, and information into finished products

an economy in which more effort is devoted to the production of services than to the production of goods

a set of activites intended to identify new ideas that have the potenital to result in new goods and services

the development of a plan for cvonverting a product idea into an actual product or service

a group of similar products that differ only in relative minor characteristics

the process of creating a set of specifications from which a product can be produced