Which of the Following Is Not One of the Four

question 96

Multiple Choice

Which of the following is not one of the four things needed for aggregate planning?

• A) a logical overall unit for measuring sales and output
• B) a method for determining costs, such as hiring, layoffs, and inventory costs, associated with production schedules
• C) a mathematical model that will minimize costs over the intermediate planning period
• D) an aggregate demand forecast for an intermediate planning period
• E) a model that combines forecasts and costs

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Definitions:

Gains From Trade

The benefits that parties obtain from engaging in voluntary trade, often resulting in an increase in overall economic efficiency and consumer welfare.

Gain From Trade

Refers to the increase in output and consumption that countries experience through specialization and exchange of goods and services.

Production Possibilities Frontier

An illustration that represents the utmost production capabilities for any two commodities, based on a combination of inputs like resources and additional elements.

Self-sufficiency

The ability of an individual, household, or nation to meet all their needs without external assistance.