To Ensure an Adequate and Available Supply of Key Scarce

question 140

Multiple Choice

To ensure an adequate and available supply of key scarce materials,many companies are now willing to .

• A)decrease levels of demand
• B)buy and hold large inventories of the materials
• C)reduce the length of the supply chain
• D)experiment with just- in- time technologies
• E)eliminate distribution and warehousing partners

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Definitions:

Positive Externality

A benefit received by a third party resulting from an economic transaction in which they were not involved.

Public Good

An offering of goods or services to society's members at no cost, supplied by the government or private parties, aiming not to generate profit.

Private Good

A product or service that is excludable and rivalrous, meaning its consumption by one individual prevents its consumption by another.

Optimal Level

Optimal Level refers to the most efficient, beneficial, or profitable position or state for a particular process, activity, or economic outcome.