The Elimination of the Middle Layer in a Supply Chain

question 12

Multiple Choice

The elimination of the middle layer in a supply chain is called

• A) disintermediation.
• B) intermediation.
• C) reintermediation.
• D) normalization.
• E) price elasticity.

Evaluate the effects of external factors, such as policy changes or market shifts, on supply and demand.

Distinguish between short-run, long-run, and immediate market period adjustments in supply and demand.

Determine the price elasticity of supply using the midpoint formula.

Relate concepts of elasticity to practical scenarios, such as minimum wage impacts and agricultural incomes.