A Supply Chain

question 165

Multiple Choice

A supply chain:

• A) is part of a broader network of relationships called a channel of distribution.
• B) is most effective when the objectives of the manufacturer at the beginning of the chain guide the activities of all other firms in the chain.
• C) requires skill in coordinating activities among different firms, and this has prompted many firms to seek help from outside experts.
• D) focuses on procuring materials needed for production, so its main weakness is that it ignores customer needs.
• E) concerns only direct relationships between producers, but a channel of distribution may involve intermediaries.

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Definitions:

Candy Store

A retail establishment specializing in the sale of candies, sweets, and similar confectionery products.

Slope

Slope is the measure of the steepness or incline of a line, calculated as the ratio of the vertical change to the horizontal change between two points on the line.

Economic Growth

A rise in the output of goods and services within an economy across a specified timeframe, generally gauged by Gross Domestic Product (GDP).

Production Possibilities

A curve or frontier that shows the various combinations of different goods that an economy can produce, given its technology and resources.