Which of the Following Is a Location Analysis Technique Typically

question 102

Multiple Choice

Which of the following is a location analysis technique typically employed by a manufacturing organization?

• A) transportation method
• B) queuing theory
• C) correlation analysis and traffic counts
• D) simulation
• E) demographic analysis

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Definitions:

Allocative Efficiency

A state of the economy in which production is in line with consumer preferences; every good or service is produced up to the point where the last unit provides a benefit to consumers equal to the cost of producing it.

Production Methods

Various techniques and processes used to create goods and services.

Allocative Efficiency

A state of the economy in which production represents consumer preferences; specifically, every good or service is produced up to the point where the last unit provides a marginal benefit to society equal to the marginal cost of producing it.

Production Possibilities Curve

A visual diagram illustrating the highest potential production mixes of two products or services that an economy can reach when it uses all its resources in a completely efficient manner.