An Advocate of Just-In-Time Inventory System Would Advocate

question 79

Multiple Choice

An advocate of just-in-time inventory system would advocate:

• A)Maintaining a large inventory selection for customers.
• B)Leaving extra time in order to make inventory deadlines.
• C)Maintaining a small inventory supply.
• D)LIFO over FIFO.

---

Definitions:

Availability of Substitutes

The presence of alternative products or services that can satisfy the same needs or wants as the original product.

Own Price Elasticity

Measures the responsiveness of the quantity demanded of a good to a change in its own price.

Anne's Apple Pies

A fictional or specific business entity known for producing or selling apple pies.

Market Share

The portion of a market controlled by a particular company or product.