What Is Lead Time

question 16

Multiple Choice

What is lead time?

• A) The amount of time it takes for a vendor to negotiate price with buyers
• B) The time it takes for a new product to progress through the life cycle
• C) The time from recognizing that an order needs to be placed and the point it arrives in the store ready for sale
• D) The amount of time it takes to develop product assortment in the assortment planning process
• E) The time it takes retailers to gain customer loyalty

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Definitions:

Floating Exchange Rate

A currency system where the value of a currency is allowed to fluctuate according to the foreign exchange market.

Fixed Exchange Rate

A currency system in which the value of a country's currency is tied to the value of another single currency, a basket of other currencies, or another measure of value, such as gold.

Trade Barriers

Trade Barriers are government-imposed restrictions on the free exchange of goods and services between countries, including tariffs, quotas, and subsidies.

Free Trade

An economic policy of not discriminating against imports from and exports to foreign jurisdictions, allowing goods to move freely across borders.