Suppose the Total Market Value of All Final Goods and Services

question 37

Multiple Choice

Suppose the total market value of all final goods and services produced in economy X this year is $4 million.Of the $4 million worth of goods and services,$3 million is sold and $1 million is held in inventory.For this year,the GDP for economy X is

• A) $4 million.
• B) $3 million.
• C) $1 million.
• D) $7 million.
• E) none of the above

Comprehend how production planning is influenced by forecasts and coordinates with various organizational functions.

Recognize the potential for incorporating environmental matters into supplier selection and evaluation processes.

Understand the role of technology in facilitating the management of surplus and obsolete materials.

Understand the rights and options of buyers and sellers in transactions.