Which Statement Is NOT True

question 234

Multiple Choice

Which statement is NOT true?

• A) There are often tradeoffs between efficiency and equity.
• B) Both efficiency and equity are subjective concepts.
• C) There are often disagreements over what is an equitable distribution of income.
• D) Another term for "equity" is "fairness."

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Definitions:

Efficient

The quality of achieving maximum productivity with minimum wasted effort or expense.

Cycle Inventory

Inventory that is held to manage the normal fluctuation of production or supply and demand, rotating through cycles of replenishment.

Safety Inventory

Extra stock kept in storage to guard against uncertainty in demand or supply, ensuring product availability.

Seasonal Inventory

Inventory that is purchased or produced in anticipation of season-based demand increases, such as holiday merchandise.