For a Closed Economy,which of the Following Conditions Must Be

question 40

Multiple Choice

For a closed economy,which of the following conditions must be satisfied for equilibrium to be maintained?

• A)G = T
• B)X = IM = 0
• C)C = S
• D)none of the above

---

Definitions:

Periodic Review System

A system of inventory control where the inventory levels are reviewed at fixed intervals to determine the reorder quantity.

Order Up To Level

A replenishment strategy where inventory is restocked to a predetermined level each time an order is placed to maintain stock availability.

Lot Size

The quantity of inventory items that a company orders or produces in a single production run or order, affecting inventory costs and management strategies.

Product Differentiation

A marketing strategy that involves distinguishing a product or service from others in the market to make it more attractive to a particular target market.