The Physical Path a Product Follows on Its Way to Customers

question 58

Multiple Choice

The physical path a product follows on its way to customers is called a(n) ________.

• A) distribution channel
• B) demand chain
• C) critical path
• D) external value network

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Definitions:

Inflation

The velocity at which the total cost of products and services surges, reducing purchasing capacity.

Unemployment

The situation of being without a job, while actively looking for one and willing to work.

Short-Run Phillips

A concept that shows an inverse relationship between the rate of unemployment and the rate of inflation in an economy over a short period of time.

Inflation Rate

The percentage increase in the price level of goods and services in an economy over a period of time.