Which of the Following Is Least Important as a Consideration

question 64

Multiple Choice

Which of the following is least important as a consideration for a firm at the beginning of a supply chain?

• A)Access to end consumers
• B)Access to resources
• C)Proximity to customers
• D)Access to transportation infrastructure
• E)Access to productive labor

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Definitions:

Perfect Competition

A market structure where numerous small firms compete against each other, and products are identical, leading to no single company influencing the market price.

Profit-Maximizing

The strategy employed by an enterprise to determine the price and output that yields the maximum profit.

Loss-Minimizing

A strategy or approach aimed at reducing the amount of losses an individual or organization may incur.

Long-Term Contracts

Agreements between parties that extend over a significant period of time, often used to ensure stability in supply, demand, and pricing conditions.