Goods and Activities Typically Are More Highly Valued the Sooner

question 33

Multiple Choice

Goods and activities typically are more highly valued the sooner they can be enjoyed, other things constant,

• A)only when interest rates are positive
• B)because interest rates are positive
• C)only when people save
• D)because people save
• E)because people have positive rates of time preference

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Definitions:

Actual Customer Orders

The real and documented requests by customers for goods or services from a company.

Pull Manufacturing

A production strategy where work is initiated based on customer demand, as opposed to pushing inventory based on projected demand.

Stock Inventory

Goods, materials, or commodities held by a business for the purpose of resale or production.

Lean Manufacturing

A methodical technique for minimizing waste in a manufacturing environment without reducing output.