Which of the Following Is True of a Master Production

question 4

Multiple Choice

Which of the following is true of a master production schedule (MPS)

• A) Its primary output is a time-phased report for scheduling raw materials purchase.
• B) It provides a means for evaluating alternative schedules in terms of capacity requirements.
• C) Its input is obtained from the materials requirements planning.
• D) It projects the requirements for the individual parts based on the demand for the finished goods.

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Definitions:

Price Elasticity

The measure of how responsive the quantity demanded or supplied of a good or service is to a change in its price.

Substitutes

Goods or services that can be used in place of each other, where the use of one increases the likelihood of the use of the other decreasing.

Price-Elastic

A characteristic of goods or services for which their demand or supply significantly changes with small changes in price.

Mass Transit

Public transportation systems designed to move large numbers of people efficiently via buses, trains, subways, and other modes of transport.