Which Item Would Be Least Likely to Be Ordered Under

question 100

Multiple Choice

Which item would be least likely to be ordered under a fixed order interval system?

• A)Textbooks at a college bookstore.
• B)Parts and components for an assembly plant with high variability in output.
• C)Cards at a gift shop.
• D)Canned peas at a supermarket.
• E)Car batteries at a "big box" retailer.

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Definitions:

Willingness to Pay

The maximum amount an individual is prepared to expend on a good or service to procure it.

Producer Surplus

The difference between the amount producers are willing to sell a good for and the amount they actually receive.

Tax Revenue

The tax revenue that governments obtain.

Equilibrium Quantity

The amount of products or services available and sought after at the balance price within a marketplace.