BUS 179 Quiz

To minimize costs

To satisfy the customers' needs (correct)

To maximize revenue

To dominate the market

Revenue is the money from sales, while profit is the money left after deducting costs (correct)

Revenue is the total sales, while profit is the total expenses

Revenue is the total income, while profit is the income after taxes

Revenue is the money left after deducting costs, while profit is the money from sales

Reducing the price of goods and services

Increasing the quantity of goods and services

Transforming lower-value inputs into higher-value outputs to satisfy customers (correct)

Expanding the market reach

<p>A system for creating value by transforming inputs into outputs to satisfy customers</p> Signup and view all the answers

<p>Viewing it as a system for satisfying customers by adding value</p> Signup and view all the answers