Every Society Must Answer

question 5

Multiple Choice

Every society must answer

• A) Which variables are exogenous and which are endogenous?
• B) Who will receive the goods and services?
• C) What goods and services will be produced, how much will be produced, who will produce them and who will receive them?
• D) How centralized should government bureaucracy be?

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Definitions:

Theory Of Constraints

A management philosophy focusing on identifying and managing bottlenecks that limit the performance of a system.

Supply Chain

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

Procurement

The process of finding, acquiring, and buying goods, services, or works from an external source, often via tendering or competitive bidding processes.