________ Allows a Firm to Increase Profits and Better Match

question 1

Multiple Choice

________ allows a firm to increase profits and better match supply and demand if the firm produces a large variety of products whose demand is unpredictable,not positively correlated,and is of about the same size.

• A)Shortened forecasting window
• B)Quick response
• C)Postponement
• D)Tailored sourcing

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Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing to purchase at a specific price level.

Future Price

The price of a good or service that is agreed upon today for delivery and payment at a future date.

Demand Curve

A graph depicting the relationship between the quantity of a good that consumers are willing to buy and its price.

Shift

A change in the position or direction of something, often used in economics to describe changes in demand or supply curves.