Prevention Benefits

question 1

Multiple Choice

prevention benefits:

• A)Represent a one-time reduction in financial or managerial resources required to operate the logistics system
• B)Represent reduced out-of-pocket or variable expenses
• C)Represent initiatives to reduce sales volumes
• D)Represent initiatives to reduce activities in areas where cost drivers are increasing

---

Definitions:

Perfectly Elastic

Describes a situation in which any small change in the price of a good leads to an infinite change in the quantity demanded or supplied, typically represented by a horizontal line on a graph.

Price Elasticity

An assessment of the responsiveness of product demand to variations in its cost.

Demand Curve

A graphical representation showing how the quantity of a good demanded by consumers changes as its price changes, holding other factors constant.

Cross-Price Elasticity

Measures the responsiveness of demand for one good to a change in the price of another good.