Order Cycle Time Refers to

question 197

Multiple Choice

Order cycle time refers to

• A)the time between when an order is placed and when payment is received.
• B)the time between the sale of the first production batch to the sale of the next production batch.
• C)the cycle between one full warehouse shipment to the next full warehouse shipment.
• D)the lag from ordering an item until it is received and ready for use or sale.
• E)the average time between reorders by a given wholesaler or retailer in the channel.

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Definitions:

Rational Consumer

An economic concept where consumers aim to maximize their utility or satisfaction from their available resources.

Demand for Good

The quantity of a particular good or service that consumers are willing and able to purchase at various prices during a specified time period.

Square Feet

A unit of area measurement equivalent to the area of a square with sides of one foot in length.

Quasilinear Preferences

Preferences where utility is linear in one argument, usually money, allowing for easy analysis of changes in wealth while other goods are evaluated non-linearly.