Answer:
socialist economy
Explanation:
A planned economy is a system where the government or the central authority makes all major economic decisions. The government decides on the type and quantities of goods to produce and for whom to produce. In the planned economy, factors of production belong to the government. Manufacture of goods and services is motivated by service to the community, not profits.
A socialist economy is a good example of a planned economy. Just like in a planned economy, a socialist economy is characterized by heavy government involvement. The state controls the factors of production. Public service is the reason for economic production, while consumers do not have the liberty to choose products.
One advantage of modularization is that it simplifies its own manufacturing systems. With this, companies can separate their material cost and product development, and they can also optimize their total product cost through increasing the potential of the variety of products, having a fast product development and upgrade, having a better time-to-market, service support, aftermarket, and lastly, enabling continuous market and product improvement.
2. It engages in business activities from which it may earn revenues and incur expenses.
Answer:
supply chain management
Explanation:
Supply chain management -
It refers to the management for the flow of services and goods along with the process that are responsible for the conversion of the raw products to final goods and services , is referred to as the supply chain management .
The process like supplying , designing , production , quality control etc. are all process in supply chain management .
Hence , from the given scenario of the question ,
The correct answer is supply chain management .
Answer: Business can positively influence how society operates. It can build and maintain social capital through its core operations; the goods and services it provides; and the activities supported through increasingly global and complex supply chains.
Explanation:
