Which of the Following Terms Is Correctly Paired with Its

question 34

Multiple Choice

Which of the following terms is correctly paired with its description?

• A)supply warehouses: part of a manufacturing plant and used for long-term storage
• B)cross-docking warehouses: typically used for storing finished goods for a short period of time before they are sorted and shipped to their destinations.
• C)retail warehouses: storage from which sales to end consumers can be made
• D)intermodal warehouses: typically used for storing finished goods between two different modes of transportation

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Definitions:

Demand

The quantity of a product or service that consumers are willing and able to purchase at various prices during a specified period of time.

Less Elastic

Describes a situation in which the demand or supply for a good or service is less responsive to changes in price.

Elasticity

An economic measure of the sensitivity of demand or supply to changes in price, income, or other factors, affecting the quantity consumed or supplied.

Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good.