This Document, Prepared by the Vendor, Provides Details of the Items

question 84

Multiple Choice

This document, prepared by the vendor, provides details of the items included in the delivery and is normally signed by the receiving clerk as verification of receipt.

• A)Packing slip
• B)Receiving report
• C)Bill of lading
• D)Purchase order

---

Definitions:

Elastic

Describes demand or supply that is highly sensitive to changes in price; a small change in price leads to a large change in the quantity demanded or supplied.

Perfectly Inelastic

Describing a situation where demand or supply does not change in response to changes in price.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price.

Price Elasticity

Quantifying the demand shift for an item in response to its price adjustments.