By Leveraging the Resources and Skills of Its Various Component

question 26

Multiple Choice

By leveraging the resources and skills of its various component firms, a supply chain provides the end customer with

• A)value.
• B)competition.
• C)stability.
• D)variety.
• E)flexibility.

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Definitions:

Utilitarianism

A theory in normative ethics holding that the best action is the one that maximizes utility, generally defined as that which produces the greatest well-being of the greatest number of people.

Liberalism

An ideology that upholds the values of autonomy, approval by those governed, and impartiality in legal matters.

Libertarianism

The political philosophy according to which the government should punish crimes and enforce voluntary agreements but not redistribute income.

Income Redistribution

The reallocation of income across a society through taxation, monetary policies, and welfare systems.