Metallurgical Designs Makes Gold and Silver Charms for Necklaces and Bracelets.It

question 114

True/False

Metallurgical Designs makes gold and silver charms for necklaces and bracelets.It markets its charms to a few retailers in any one region and promotes them intensively to those retailers.This is an example of intensive distribution.

Differentiate between microeconomics and macroeconomics and their respective fields of study.

Understand the concept of opportunity costs and its application in decision making.

Identify the distinction between positive and normative statements and their roles in economics.

Recognize the economizing problem as a fundamental economic issue.

---

Definitions:

Quick Response

A business strategy aimed at decreasing lead times and enhancing flexibility in operations to meet customer demand efficiently.

Manufacturer Profit

The financial gain a manufacturing company secures from its operations after deducting costs associated with production and distribution.

Short Term

A period of time that is immediate or not far in the future, usually less than a year, often used in reference to planning or financial strategies.

Product Availability

the extent to which a product is obtainable in the desired quantities at the right time and place for customers.