What Can Be Learned from Playing the Supply Chain Game

question 82

Multiple Choice

What can be learned from playing the supply chain game?

• A)The performance of a linked system is tied to the adequacy of forecasts about future demand.
• B)There are measures that can be taken to improve communications and reduce information delays.
• C)There are methods for improving forecasts.
• D)all of the above

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Definitions:

Equilibrium Wage

The compensation rate at which labor demand from businesses meets labor supply from employees.

Wage Rate

The amount of money paid to a worker per unit of time, usually expressed per hour or year.

Supply Curve

A graphical representation showing the quantity of goods that producers are willing and able to sell at different prices.

Market for Labor

The economic marketplace where employers find workers and workers find jobs.