Organizations must acquire a variety of resources in order to produce a product or service of value. These resources may include materials, equipment, financing, or even employees. The sources that provide these various resources are referred to as
A) Resource firms.
B) Placement centers.
C) Retailers.
D) Suppliers.
E) Customs houses.

Question

Quizplus · Accepted Answer

Organizations must acquire resources (inputs) from their environment and convert them into products or services (outputs) to sell. Suppliers provide resources needed for production in the form of people (trade schools and universities), raw materials (producers, wholesalers, and distributors), information (researchers and consulting firms), and financial capital (banks).

Organizations Must Acquire a Variety of Resources in Order to Produce