Marginal Analysis

question 9

Multiple Choice

Marginal analysis:

• A) compares some benefits of a change with all the costs of the change.
• B) compares total benefits of a change with total costs of the change.
• C) examines the impact of changes from a current situation.
• D) examines only the non-important issues.

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Definitions:

Purchasing

The process of obtaining goods or services, typically for business purposes.

Supply Chain Management

The supervision and management of materials, data, and monetary resources as they transition from the supplier, through the manufacturer and wholesaler phases, ultimately reaching the retailer and consumer.

On-time Availability

The state or characteristic of being ready for use or accessible exactly when needed or promised.

Efficiency

The ability to achieve a desired result or perform a task with the least amount of wasted time, effort, or resources.