A ______ Is a Customer Order That a Company Accepts

question 44

Multiple Choice

A ______ is a customer order that a company accepts in one period but promises to deliver at a later point in time.

• A)delivery order
• B)return order
• C)backorder
• D)buyback order

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Definitions:

Efficiency Loss

Reductions in combined consumer and producer surplus caused by an underallocation or overallocation of resources to the production of a good or service. Also called deadweight loss.

Deadweight Loss

A loss of economic efficiency that occurs when the equilibrium for a good or service is not achieved or is not achievable.

Actual Production

The quantity of goods or services produced by a firm, industry, or economy within a specific period, factual and not estimated.