The Cashier Waved the Can of Golden Hominy Across the Holographic

question 66

Multiple Choice

The cashier waved the can of golden hominy across the holographic bar code reader and it emitted a piercing beep. At the same time the customer's bill was rising, the grocery store's inventory was automatically being reduced by 1 can of golden hominy down to 3 cans. This was the bare minimum amount of hominy the store manager dared carry in inventory, so the computer system automatically sent a message to the hominy man, who loaded a few cases onto his delivery truck for tomorrow morning's trip to replenish the store. This is a classic example of:

• A)a periodic review system.
• B)safety stock.
• C)a continuous review system.
• D)cycle stock.

---

Definitions:

Barriers to Entry

Barriers consisting of financial, bureaucratic, or legal hindrances that restrict the entry of new players into a market or business sector.

Monopoly Resources

Natural or created resources over which a single entity has control, limiting competition and influencing market prices.

Price Effect

The price effect is an economic term describing the impact of a change in a product’s price on its demand and supply.

Total Revenue

The total receipts a company receives from sales of goods or services before any expenses are subtracted.