Oral Contracts for ________ Goods Are Enforceable Even If They

question 28

Multiple Choice

Oral contracts for ________ goods are enforceable even if they normally would have to be in writing.

• A)retail
• B)wholesale
• C)collateral
• D)consumer
• E)customized

Recognize the characteristics and benefits of self-managing and autonomous work groups.

Identify the importance and components of team building for improving performance.

Acknowledge the role of cross-functional teams in fostering innovation and breaking down departmental barriers.

Comprehend the steps and processes involved in creating effective teams.

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Definitions:

Supply Chain

A system of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer.

Physical Distribution

The activities concerned with the efficient movement of products from the producer to consumers, including storage and transportation.

Supply Chain Management

The oversight of materials, information, and finances as they move from supplier to manufacturer to wholesaler to retailer to consumer.

Price Elasticity

A measure of how sensitive the quantity demanded of a good or service is to a change in its price.