Order Fill Rates of 100% ______

question 97

Multiple Choice

Order fill rates of 100% ______.

• A)are impossible to achieve,no matter what
• B)can be achieved,provided we are willing to overstock items
• C)can be achieved only in some industries
• D)can be achieved using a periodic review systems

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Definitions:

Income Effect

The relationship between changing income in a person's life or the economy and the subsequent demand for certain goods or services.

Perfect Substitutes

Goods for which consumers are willing to replace one for the other at a constant rate, without affecting their level of utility.

Substitution Effect

The change in consumption patterns due to a change in relative prices, leading consumers to substitute one product for another.

Income Effect

The effect of modifications in earnings for a person or the economy on how much of a good or service is sought after.