Demand Tends to Be

question 101

Multiple Choice

Demand tends to be:

• A) more elastic in the short term than in the long term.
• B) more inelastic in the short term than in the long term.
• C) equally elastic in the short term and in the long term.
• D) None of the preceding statements is correct.

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Definitions:

Network Design Model

A strategic approach to determining the most efficient configuration of a supply chain network, including location of facilities, and distribution routes.

Variable

A quantity or element that can change or be changed within a mathematical formula, experiment, or model.

Multi-channel Capabilities

The ability of a business to interact with its customers through multiple channels, such as physical locations, online, and over the phone, in a cohesive and integrated manner.

Online Ordering

The method of purchasing goods or services via the internet.