If Consumers Prefer Earlier Availability of Goods to Later Availability

question 45

Multiple Choice

If consumers prefer earlier availability of goods to later availability, they are said to have a __________ rate of time preference.

• A)positive
• B)negative
• C)rational
• D)roundabout

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Definitions:

Demand Related

Pertaining to aspects, outcomes, or considerations that are influenced by the demand for products or services, such as pricing, production planning, or inventory levels.

Accurate Lot Sizes

It involves determining the optimal quantity of a product to order or produce, balancing costs and meeting demand efficiently.

MRP

Materials Requirement Planning, a production planning, scheduling, and inventory control system used to manage manufacturing processes efficiently.