If the Value of Goods a Country Is Exporting Is

question 33

Multiple Choice

If the value of goods a country is exporting is greater than the value of goods it is importing, then the country is running a

• A)trade surplus.
• B)trade deficit.
• C)dollar sale.
• D)contracting economy.

---

Definitions:

Supply Chain Surplus

The total value generated by the supply chain, measured as the difference between the value of the final product to the consumer and the costs of the supply chain.

Supply Chain

A network of all entities involved in producing and delivering a specific product or service, from raw materials to end customers.

Bullwhip Effect

The phenomenon in supply chains where small fluctuations in demand at the retail level cause progressively larger variations in demand at wholesale, distributor, and manufacturer levels.

Lot Sizes

The number of units of a product that are manufactured or acquired in a single production run or order, affecting both inventory levels and production cost.