Supply Chain and Logistics Managers Play a Large Part in the Manufacture

question 27

Multiple Choice

Supply chain and logistics managers play a large part in the manufacture of automobiles.It is estimated that logistics costs account for __________ percent of the retail price of a typical new car.

• A) 25 to 30
• B) 40 to 45
• C) 50 to 60
• D) 60 to 70
• E) over 70

Distinguish between explicit and implicit costs and their relevance to economic and accounting profits.

Explain the impact of diminishing marginal product on cost curves.

Identify the components of total costs in production.

Understand the concept of opportunity costs and their role in decision-making.

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Definitions:

Supervisory Support

The assistance and guidance provided by supervisors to their subordinates, aiming to help them perform their tasks more effectively and improve their skills.

Organizational Support

The extent to which an organization values its employees, provides help, and guarantees their welfare and job satisfaction.

Environmental Factors

denote external elements like climate, economic conditions, and social settings that influence living and working conditions and can impact health, behaviors, and business operations.

Creativity

The ability to generate new, unique, or innovative ideas, solutions, or approaches.