A Major Economic Consequence of the Transportation and Market Revolutions

question 40

Multiple Choice

A major economic consequence of the transportation and market revolutions was

• A) a lessening of the gap between great wealth and poverty.
• B) a stabilization of the work force in industrial cities.
• C) the declining significance of American agriculture.
• D) an increase in living standards for all Americans.
• E) the growing realization of the "rags-to-riches" American dream.

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Definitions:

Order Fill Rate

A measure of supply chain efficiency that indicates the percentage of customer orders that are fulfilled without backorders or stockouts.

Safety Inventory

Extra inventory held to guard against uncertainty in demand or supply.

Product Availability

The extent to which goods are in stock and ready for sale or delivery at any given time.

Echelon Inventory

The inventory held across different stages or levels of the supply chain, from raw materials to final products, to meet downstream demand.