Low Level Coding Means That

question 23

Multiple Choice

Low level coding means that

• A) a final item has only a few levels in the BOM structure
• B) it is the code for the lowest level in the BOM structure
• C) a component item is coded at the lowest level at which it appears in the BOM structure
• D) the top level of the BOM is below level zero and that BOMs are not organized around the finished product
• E) none of the above

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Definitions:

Production Possibility Frontier

A graph that shows the maximum possible output combinations of two goods or services an economy can achieve when using all available resources efficiently.

Demand Curve

A graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period of time.

Quantity Demanded

The overall quantity of a good or service buyers intend and can afford to acquire at an established price.

Substitutes

Products or services that can be used in place of each other, offering consumers choices in the marketplace.