Supply Chain and Logistics Managers Play a Large Part in the Manufacture

question 81

Multiple Choice

Supply chain and logistics managers play a large part in the manufacture of automobiles. It is estimated that logistics costs account for ________ percent of the retail price you pay for a new car.

• A) 1 to 2
• B) 4 to 5
• C) 8 to 10
• D) 12 to 15
• E) 25 to 30

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Definitions:

Escrow Account

An escrow account is a financial arrangement where a third party holds and regulates payment of the funds required for two parties involved in a given transaction, ensuring fair and secure dealings.

Objective Theory

A legal principle stating that the terms of a contract are interpreted based on external expressions (actions, words) rather than internal intentions.

Offeror's Words

The specific language or phrasing used by the person making an offer in a contract scenario, which can impact the terms and acceptance of the contract.

Intent Requirement

A legal principle that requires establishing a person's specific intent or purpose to commit a crime or execute a legal act.