Grocery Stores Use Scanners Not Only for Faster Check-Out Times,but

question 141

Multiple Choice

Grocery stores use scanners not only for faster check-out times,but as a tool to obtain merchandise sales data and create short-term forecasts.This system is known as _____ production.

• A)product-focused
• B)quality control
• C)data marketing
• D)customer-driven

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Definitions:

Factor Endowments

The quantity and quality of labor, land, and capital that a country possesses and can utilize for manufacturing.

Free Trade

A policy wherein a government does not discriminate against imports or interfere with exports by applying tariffs (to imports) or subsidies (to exports).

Tariffs

Government levies on goods brought into the country.

Import Quotas

Import Quotas are government-imposed limits on the quantity or value of goods that can be imported into a country, typically used to protect domestic industries and control trade balances.