When Demand Is More Elastic Than Supply, Buyers Bear More

question 44

True/False

When demand is more elastic than supply, buyers bear more of the tax burden.

---

Definitions:

Supply Chain Management

Supply chain management encompasses the planning and management of all activities involved in sourcing, procurement, conversion, and logistics management to efficiently produce and distribute goods and services.

Logistics

The detailed coordination and implementation of complex operations involving the movement of people or goods.

Value Chain Optimization

A strategic process aimed at improving efficiency and competitive advantage by analyzing and optimizing each step involved in producing a product or service.

Enterprise Resource Planning (ERP) Systems

Integrated software platforms that manage a company's core business processes, such as finance, supply chain, operations, reporting, manufacturing, and human resource activities.