When Supply Is ________ or the Product Is ________, Then

question 154

Multiple Choice

When supply is ________ or the product is ________, then price is demand determined.

• A) fixed; unique
• B) variable; standardized
• C) fixed; standardized
• D) variable; unique

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Definitions:

Quantity

The amount or number of a material or immaterial good considered as a unit or an aggregate.

Gross Requirements

Gross requirements in inventory management are the total demand for a component or product before any adjustments for on-hand inventory or scheduled receipts.

Inventory On Hand

The total amount of stock, including raw materials, work-in-progress, and finished goods, available at any given time.

Scheduled Receipts

The planned arrival of materials, components, or products into a manufacturing plant or storage facility, as expected by the production schedule.