Which of the Following Statements About a Supply Chain Is

question 62

Multiple Choice

Which of the following statements about a supply chain is true?

• A)A supply chain refers to the organizations to which a company either offshores or outsources production or other operations.
• B)A supply chain includes all organizations that contribute to the development,manufacture,and shipping of products to a consumer.
• C)A company that does not offshore or outsource production or other operations is said not to have a supply chain.
• D)A supply chain focuses on the organizations involved in transforming raw materials to finished products but does not include the handling and management of products returned by customers.

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Definitions:

Competitive Market

A market structure where many firms offer products or services that are similar, leading to high levels of competition.

Perfectly Competitive

A market structure characterized by a large number of small firms, homogenous products, and free entry and exit, leading to optimal distribution of resources.

MR = MC

An economic principle where the marginal revenue (MR) equals the marginal cost (MC), often used as a condition for profit maximization.

ATC = AVC

Indicates that the Average Total Cost equals the Average Variable Cost, a condition found at the minimum point of the Average Total Cost curve in economic analysis.