Graph 3-1 These Figures Illustrate the Production Possibilities Frontiers for Robinson Crusoe

question 116

Multiple Choice

Graph 3-1

These figures illustrate the production possibilities frontiers for Robinson Crusoe and Friday with 12 hours of labour.
-Refer to Graph 3-1.For Friday, the opportunity cost of 1 kg of coconuts is:

• A)2/3 kg of fish
• B)3 kg of fish
• C)1 kg of fish
• D)2 kg of fish

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Definitions:

Distribution Resource Planning

A method used in business logistics management for planning orders within a supply chain, to ensure that distribution is completed efficiently and inventory levels are kept optimal.

Time-Phased Stock

Inventory planning and control approach that accounts for changes in demand and supply over different time periods, often used in material requirements planning (MRP).

Distribution Network

The interconnected group of storage facilities and transportation systems that move goods from manufacturers to consumers.

System Nervousness

Frequent changes in an MRP system.