In a Net Change MRP System, Requirements and Schedules Are

question 27

True/False

In a net change MRP system, requirements and schedules are updated whenever a transaction is processed that has an impact on the item.

---

Definitions:

Marginal Revenue

The increase in income resulting from the sale of one extra unit of a product or service.

Average Revenue

The amount of revenue a company receives per unit of sales, calculated by dividing total revenue by the number of units sold.

Market Equilibrium

A condition in which market supply and demand balance each other, and as a result, prices become stable.

Competitive Industry

A competitive industry is one where numerous producers compete with each other to satisfy the needs and wants of consumers, characterized by free entry and exit and a high level of innovation.