Which of the following is most likely to have contributed to better inventory management?
a. Stability in the market demand
b. Stability in the average price level
c. Perfect forecasting by the firms
d. Reduced variability in the input costs
e. Improvements in information technology and communication
e
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Henry George claimed that land-rent taxes would not impair economic efficiency because:
A. They do not result in a change in the amount of land available B. Landowners are, as a group, financially secure and able to pay the taxes C. The supply of land is infinitely elastic D. Rents represent a small part of income paid to American resource suppliers, so taxes on wages and salaries are more disruptive
When the opportunity cost of producing carrots increases as more carrots are produced, then:
A. no more carrots will be produced. B. resources are equally suited to the production of carrots and to other goods. C. the production possibilities curve is a straight line. D. the law of increasing opportunity costs is present