This Occurs When There Is a Temporary Imbalance Between Supply

question 65

Multiple Choice

This occurs when there is a temporary imbalance between supply and demand.

• A)reorders
• B)inventory mismanagement
• C)delays
• D)backorders
• E)waiting line

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Definitions:

Shut Down

The temporary or permanent cessation of operations, often due to economic, financial, or market conditions, prompting a business to stop production or close.

Price

The amount of money required to purchase a good or service, often determined by factors such as supply and demand, production costs, and market competition.

Diagram

A simplified drawing showing the appearance, structure, or workings of something, often used for explanation purposes.

Economic Profit

The remaining profit once every cost, including those that are explicit and those that are implicit, is deducted from the total revenue.