In a just-in-time logistics system, ________
A) retailers carry small inventories of merchandise to last for only a few days
B) retailers store products for long periods to avoid an interruption in supply
C) producers supply products to resellers before customers place their orders
D) producers that are geographically far from their retailers use an express-delivery system
E) retailers incur high inventory-carrying and inventory-handling costs
A
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Mrs. Barker has a poodle that she loves very much. The poor little dog is killed in a house fire, and Mrs. Barker asks her homeowners insurance company to pay $100,000 for the loss of the dog. The insurer denies the claim
On what grounds would it be able to do this? A) Too much moral hazard potential exists with the loss of pets. B) It's impossible to measure, economically, the value of a beloved pet. C) Animals are never insurable items. D) The insurer could not legally deny the claim.