The Key Difference Between the Traditional Marketplace and the New

question 236

Multiple Choice

The key difference between the traditional marketplace and the new marketspace is that the latter is a(n) __________ exchange environment.

• A)tangible
• B)analog
• C)physical
• D)material
• E)digital

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Definitions:

Just-in-time Inventory Systems

An inventory strategy companies use to increase efficiency and decrease waste by receiving goods only as they are needed in the production process, reducing inventory costs.

Responsibility

involves the duty or obligation to perform or complete a task, with an inherent accountability for the successful completion and outcomes.

Vendors

Businesses or individuals that sell products or services to other businesses or consumers.

Lease Decision

The choice between leasing or purchasing an asset, involving considerations of cost, duration, and financial impact.