Which One of the Following Statements Represents an Advantage of the P

question 22

Multiple Choice

Which one of the following statements represents an advantage of the P system over the Q system?

• A) Less safety stock is carried to achieve the same service level.
• B) Orders can be more easily combined to the same supplier.
• C) A P system is more suitable for quantity discounts and capacity limitations.
• D) The replenishment intervals can be more easily individualized for items.

Understand Maslow's hierarchy of needs and its relevance to employee motivation and satisfaction.

Differentiate between lower-order and higher-order needs as proposed by Maslow and their implications in the workplace.

Recognize the principles underlying Maslow's theory, including the progression and deficit principles.

Identify strategies for job enrichment and their potential impact on employee motivation and job satisfaction.

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Definitions:

Pareto Efficient

A condition in which no individual's situation can be improved without worsening the situation of another individual.

Public Good

A product or service that is provided without profit to all members of a society, either by the government or a private individual or organization.

Private Good

A product or service that is consumed by an individual and cannot be used or consumed by others once it is purchased.

Pareto Optimal

Pareto optimal describes a state in an economic system where it’s impossible to make any one individual better off without making at least one individual worse off, indicating an efficiency in resource allocation.