The Demand for Labor Determines the

question 1

Multiple Choice

The demand for labor determines the

• A)Total number of people who want to work.
• B)Number of available jobs.
• C)Willingness and ability of people to work at alternative wage rates.
• D)Minimum wage rate.

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Definitions:

Postponement Technique

A supply chain management strategy that delays the final assembly or customization of a product until the latest possible time to reduce inventory costs and better match customer demand.

Reduction

The process of decreasing or lessening something in size, amount, or degree.

Early Customization

A strategy where a product is partially completed and then finished according to specific customer requirements closer to the time of purchase.

Bullwhip Effect

A phenomenon in supply chains where variations in demand cause progressively larger variations in supply, leading to inefficiency and excess inventory.