Jared Is a Salesman at a Large Retail Store

question 45

Multiple Choice

Jared is a salesman at a large retail store.Upon meeting his monthly sales target,he is honored with the title of "Star Salesman" by the management.Despite the recognition,Jared is not very happy.He feels that the management should have rewarded him with a bonus instead of a title.According to Maslow's hierarchy of needs,which of the following needs is Jared seeking to fulfill?

• A)safety needs
• B)physiological needs
• C)esteem needs
• D)self-actualization needs

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Definitions:

Economic Batches

The optimal production quantity that minimizes the total cost, including setup costs and holding costs, ensuring cost-efficient production runs.

Holding Costs

Expenses associated with storing unsold inventory, including warehousing, insurance, and spoilage costs.

Setup Costs

The expenses incurred to ready equipment, processes, or systems for production or operation. These costs do not vary with the quantity produced.

Order Cycles

The process or sequence of events from placing an order to receiving goods, often part of inventory management strategies.