In the Classical Model with Fixed Output, the Supply and Demand

question 159

Multiple Choice

In the classical model with fixed output, the supply and demand for goods and services are balanced by:

• A) government spending.
• B) taxes.
• C) fiscal policy.
• D) the interest rate.

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Definitions:

Inventory

The total amount of goods or materials contained in a store or warehouse at any given time.

Place Element

One of the four Ps in the marketing mix, referring to the distribution and accessibility of a product or service to the target market.

Marketing Mix

The set of controllable marketing variables, traditionally identified as product, price, place, and promotion, that a company uses to pursue its marketing objectives.

Supply Chain

The network of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer.