Examlex
All of the following are concepts used in a just-in-time inventory management system except
Goods and Services
Physical products (goods) and intangible benefits (services) that fulfill consumers' needs or desires.
Nominal Wage
The wage paid to workers measured in current monetary units, without taking inflation into account.
Price Level
The calculated average of current prices for all goods and services in the economic field.
Money Supply
The entire sum of cash, coins, and account balances in checking and savings that constitute the monetary assets in an economy at a specific time.
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