Which Term Describes an Approach That Produces or Delivers a Product

question 79

Multiple Choice

Which term describes an approach that produces or delivers a product or service just at the time the customer wants it?

• A) Just-in-time
• B) Supply chain
• C) Distribution chain
• D) Value chain

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Definitions:

Changes in Income

Fluctuations in the amount of income earned, which can affect consumer spending and saving behavior.

Related Goods

Goods that are connected or interdependent, typically categorized as either substitutes or complements to one another.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price in a given time period.

Quantity Supplied

The aggregate quantity of a product or service that suppliers are prepared and capable of selling at a particular price during a defined time frame.