________ Involves Not Only Purchasing Goods and Materials but Also

question 73

Short Answer

________ involves not only purchasing goods and materials but also sourcing,negotiating with suppliers,paying for goods,and making delivery arrangements.

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Definitions:

Demand

In economics, the quantity of a good or service that consumers are willing and able to purchase at various prices during a given period.

Copyrights

Legal rights given to creators over their creations, granting them exclusive rights to use and distribute their work for a certain period of time.

Marginal Cost

The hike in overall cost that comes with the assembly of an extra unit of a product or service.

Elasticity

A measure in economics to show how much the quantity demanded or supplied of a good responds to a change in price or other factors.