To Meet Increased Demand for Its Good, a Firm Decides

question 15

Multiple Choice

To meet increased demand for its good, a firm decides to hire a few high- skilled workers, rather than hire many low- skilled workers.The firm is answering the question.

• A)"how"
• B)"what"
• C)"who"
• D)"when"
• E)"where"

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Definitions:

Bullwhip Effect

A phenomenon in supply chains where small fluctuations in demand at the retail level cause progressively larger fluctuations in demand at the wholesale, distributor, and manufacturer levels.

Order Size

The quantity of goods a company purchases or produces in a single order to meet its demand while minimizing costs.

Disaster Risk

The likelihood of loss of life, injury, or destruction and damage from a disaster in a given period.

Suppliers

Entities that provide goods or services to another entity, typically within a supply chain, to assist in the production of final products or services.