All of the Following Are Part of the Four Basic

question 9

Multiple Choice

All of the following are part of the four basic components of supply chain management except:

• A) Supply chain strategy
• B) Supply chain customers
• C) Supply chain partners
• D) Supply chain logistics

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Definitions:

Price Charge

The amount of money demanded by a seller for a product or service, essentially the cost to the buyer.

Marginal Revenue Curve

A graphical representation that shows how the addition of one more unit of a good or service sold affects the total revenue of a business.

Demand Curve

A graphical representation that shows the relationship between the price of a good and the quantity of that good consumers are willing to buy.

Long-Run Equilibrium

A state in economics where all factors of production and economic variables are in balance, and no external pressures are causing change.