A 3PL Is a One-Stop Shipping Solution for a Company

question 41

True/False

A 3PL is a one-stop shipping solution for a company that wants to focus on other aspects of its business besides logistics.

---

Definitions:

Equilibrium

A state where supply equals demand in a market, resulting in no inherent force for price change.

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded, also known as the market-clearing price.

Shortage

A scenario in which the need for a product surpasses the amount available at a particular price.

Quantity Demanded

The total amount of goods or services that consumers are willing and able to purchase at a given price level in a given period.