Zev and John Were Neighbours

question 75

True/False

Zev and John were neighbours.Before Zev left on a holiday,he asked John to "keep an eye on his house." While Zev was on holidays,John noticed that Zev's lawn was in need of cutting,and proceeded to cut the lawn.On Zev's return from his holiday,John demanded $10 for cutting the lawn.
-Zev and John have a binding contract for the cutting of the lawn,because Zev's statement constituted an offer to John to cut the lawn,which John accepted.

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Definitions:

MRP

Material Requirements Planning, a system for planning production and inventory control, ensuring materials and products are available for production and delivery.

Time Period

Refers to a specific duration or interval in which certain events or processes take place.

Net Requirements

The actual amount of materials or resources needed for production, calculated after considering the on-hand inventory and pending orders, to meet the production schedule.