When Markets Don't Achieve Efficiency

question 131

Multiple Choice

When markets don't achieve efficiency:

• A)they must achieve equity.
• B)the government must be participating in the market.
• C)the government may intervene to improve society's welfare.
• D)they should be closed.

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Definitions:

Supply Chain Surplus

The total value generated by all participants in the supply chain, often measured as the difference between customer value and the supply chain cost.

Logistics Driver

Critical factors that influence the efficiency and effectiveness of a company's logistics and supply chain operations.

Sourcing

The process of finding, evaluating, and engaging suppliers of goods and services to fulfill business requirements.

Supply Chain Surplus

The total value created in a supply chain, measured as the difference between the value of the final product to the customer and the costs incurred in bringing the product to market.