One of the Factors That Exists That Helps a NIC

question 3

True/False

One of the factors that exists that helps a NIC (newly industrializing country)to experience economic growth is economic and legal reforms.

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Definitions:

Cost of Understocking

Refers to the lost opportunity and sales a business incurs when it does not have enough inventory to meet demand.

Lost Sale

Occurs when a potential customer does not complete a purchase due to product unavailability or other purchasing barriers.

Inventory

The stock of goods, materials, parts, and finished products that a company holds for the purpose of resale or production.

Forecast Accuracy

The degree to which forecasted values match or are close to the actual realized values.