ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Supply and Demand impacts sales.
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True
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False
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Only if sold internationally
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Only if sold in the U.S.
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Explanation:
Detailed explanation-1: -It’s a fundamental economic principle that when supply exceeds demand for a good or service, prices fall. When demand exceeds supply, prices tend to rise. There is an inverse relationship between the supply and prices of goods and services when demand is unchanged.
Detailed explanation-2: -Supply and demand greatly influences the profit margins of companies that have inventory–oversupply and low demand results in high inventory costs for the company, while undersupply and high demand will cause the company to be constantly running out of items and displeasing customers.
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