Supply and Demand Planning Is Needed to Coordinate the Manufacturing

question 51

True/False

Supply and demand planning is needed to coordinate the manufacturing, service, and supply chain processes.

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Definitions:

Market Shortage

A condition in which the quantity demanded of a good exceeds the quantity supplied at the market price.

Binding Price Ceilings

Regulatory limits on the price of goods and services that are set below the market equilibrium price, causing shortages.

Consumers

People or organizations that use economic goods and services for personal, household, or organizational purposes.

Price Ceilings

A legal maximum on the price at which a good can be sold, often set by government.