In Which of the Five Basic Supply Chain Activities Do

question 138

Multiple Choice

In which of the five basic supply chain activities do you build relationships with suppliers to procure raw materials?

• A) Plan
• B) Source
• C) Deliver
• D) Return

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Definitions:

Marginal Revenue

The increase in revenue that results from the sale of one additional unit of a product or service.

Downsloping Curve

Typically refers to a demand curve in economics, indicating that as the price of a product decreases, the quantity demanded increases, and vice versa.

Price Lowering

Price lowering involves reducing the selling price of goods or services, often as a strategy to increase demand or competitiveness in the market.

Monopolist Demand

Monopolist demand refers to the total market demand faced by a monopolist, which is the sole provider of a good or service in the market, and thus faces the downward-sloping market demand curve directly.