Which of the Following Represents a Company in a Supply

question 172

Multiple Choice

Which of the following represents a company in a supply chain?

• A) Customer and competitor.
• B) Supplier and competitor.
• C) Knowledge worker and supplier.
• D) Supplier and customer.

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Definitions:

Equilibrium Level

The state in which market supply and demand balance each other, and as a result, prices become stable.

Structural Unemployment

A situation where there is a mismatch between the skills workers have and the skills needed by employers due to technological changes or other factors.

Labor Unions

Organizations formed by workers from related fields that work for the common interest of its members in terms of wages, working hours, working conditions, and other employment matters.

Natural Rate

The unemployment rate at which the economy operates at full capacity, with only frictional and structural unemployment.