The ________ Describes the Flow of Goods,services,and Information from the Initial

question 103

Multiple Choice

The ________ describes the flow of goods,services,and information from the initial sources of materials and services to the delivery of products to consumers.

• A)customer list
• B)supply chain
• C)enterprise requirements plan (ERP)
• D)material requirements plan (MRP)

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Definitions:

Marginal Utility

The additional satisfaction or benefit a consumer receives from consuming one more unit of a good or service.

Consumed

The act of using up a good or service, thus removing it from the market and contributing to economic activity.

Marginal Utility

The variation in pleasure or usefulness a consumer feels from using one more unit of a product or service.

Diminishing Marginal Utility

The principle that as a consumer consumes more of a good or service, the additional satisfaction gained from consuming an additional unit decreases.