The Efficient and Cost-Effective Forward and Reverse Flow and Storage

question 32

Multiple Choice

The efficient and cost-effective forward and reverse flow and storage of goods,services,and related information into,through,and out of channel member companies is called:

• A) systematization
• B) logistics
• C) engineering
• D) distribution
• E) coordination

---

Definitions:

Circular-Flow Diagram

A diagram that represents the transactions in an economy by two kinds of flows around a circle: flows of physical things such as goods or labor in one direction and flows of money to pay for these physical things in the opposite direction.

Output

In economics, output refers to the total amount of goods or services produced by a firm or country.

Factor of Production

An input used in the production of goods and services, such as land, labor, capital, and entrepreneurship.

Machines

Mechanical or electronic devices that perform tasks, often complex, without human intervention.