Which of the Following Occur in the Real World

question 85

Multiple Choice

Which of the following occur in the real world?

• A) Neither market failures nor government failures
• B) Government failures but not market failures
• C) Market failures but not government failures
• D) Both market failures and government failures

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Definitions:

Supply Chain's Responsiveness

The ability of a supply chain to quickly adapt to changes in demand, supply, or environmental conditions.

Optimal Quantity

The most efficient amount of stock or product to order or hold to minimize costs and meet demand.

Standard Deviation

A statistical measure that quantifies the amount of variation or dispersion of a set of values.

Level of Availability

The degree to which a system, service, or product is operable and accessible when required for use.