ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Resource utilization will also fluctuate
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Low investment
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Service level becomes low
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High cost to match capacity
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Detailed explanation-1: -The four basic laws of supply and demand are: If supply increases and demand stays the same, prices will fall. If supply remains constant and demand decreases, prices will fall. If supply decreases and demand stays the same, prices will rise.
Detailed explanation-2: -Higher prices cause supply to increase while demand drops. Lower prices boost demand while limiting supply. The market-clearing price is one at which supply and demand are balanced.
Detailed explanation-3: -Factors that can shift the demand curve for goods and services, causing a different quantity to be demanded at any given price, include changes in tastes, population, income, prices of substitute or complement goods, and expectations about future conditions and prices.