In Supply Chain Management,ethical Issues

question 33

Multiple Choice

In supply chain management,ethical issues:

• A)are particularly important because of the enormous opportunities for abuse.
• B)may be guided by company rules and codes of conduct.
• C)become more complex the more global is the supply chain.
• D)may be guided by the principles and standards of the Institute for Supply Management.
• E)All of the above are true.

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Definitions:

Average Cost

The total cost of production divided by the number of goods produced, also known as unit cost.

Marginal Cost

The increase in total cost that arises from an extra unit of production.

Elasticity

A measure of how much the quantity demanded or supplied of a good responds to a change in price or other factors.

Long-run Profit

The amount of financial gain achieved over a longer period, taking into account all fixed and variable costs.