PRELIMS LESSON/QUIZ Flashcards
It refers to a person who creates products partly or entirely by hand.
Artisan
It refers to a person who works for an expert to learn a trade.
Apprentice
It refers to an association of experts who practice the same craft.
Guild
It led to the Industrial Revolution.
Steam Engine
It is a manufacturing system in which a product is made in a series of machines and workers as it moves along a conveyor belt.
Assembly Line
It made the manufacture and repair of products faster and cheaper.
Interchangeable Parts
It is dividing work into smaller segments among a group of individuals.
Division of Work
It refers to the determination of the most economical movement to do a task.
Time and Motion Study
It led to the Digital Revolution.
Transistor
In technology and business the acronym AI means _____________.
Artificial Intelligence
Forecasting based on customer feedback.
Customer Survey
Forecasting based on opinion of managers, salespeople, consultants and customers.
Delphi Method
Forecasting based on experiences of managers.
Executive Opinion
Forecasting based on knowledge of salespeople.
Salesforce Opinion
The following are examples of independent demand except:
A. Car
B. Steak
C. Soap
D. Sauce
Sauce
The following are examples of dependent demand except:
A. Tires
B. Creamer
C. Computer Mouse
D. Water
Water
Which among the following is not in demand during Christmas:
A. School Supplies
B. Ham
C. Gift Wrapper
D. Christmas Tree
A. School Supplies
Which among the following is in demand during New Year’s Eve:
A. Fruits
B. Candle
C. Gun
D. Flowers
A. Fruits
Using Simple Moving Average, compute for the demand in the 4th week if the past weekly demand were 30, 40 and 50.
40
Using Weighted Moving Average, compute for the demand in 4th week if the past weekly demand were 30 (0.2) 40 (0.3) and 50 (0.5).
43
is thought to have begun after the last ice age.
Agricultural Revolution
began by the 1760 in Britain and soon
spread to the rest of the world. It shifted societies from an
agrarian and handicraft economy to a manufacturing economy.
Industrial Revolution
Each individual worker focuses more specifically on a narrow set of skills or tasks.
Division of Labor
is one of the most important inventions in American history.
The automobile assembly line
