The Design and Management of Seamless,value-Added Processes Across Organizational Boundaries

question 20

Multiple Choice

The design and management of seamless,value-added processes across organizational boundaries to meet the real needs of the end customer is called:

• A)Demand management
• B)Distribution channel management
• C)Supply chain management
• D)Logistics management

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Definitions:

Allocative Efficiency

A condition of distributing resources in which improving the situation of one person necessitates the detriment of another.

Long-Run Equilibrium

A state in which all factors of production can be adjusted, markets clear, and no economic agents have the incentive to change their behavior.

Marginal Revenue

The additional income that a business receives from selling one more unit of a good or service.

Economic Profits

The difference between total revenues and total costs, including both explicit and implicit costs.