Reference no: EM132301752
1. If it is difficult to estimate the total size of the market for a new product, it will be _________________.
a best not to launch the product
b difficult to estimate its profit potential
c meaningless to conduct a test market study
d easy to estimate the rate of adoption
e impossible to commercialize the product
2. The reasons for holding inventory include all the following EXCEPT:
it ensures employees are motivated.
it allows output rate to remain relatively stable as demand varies predictably over time.
it takes time to transform input into output.
it serves as a buffer against demand uncertainty.
3. According to Article VIII of the Articles of Confederation, who is responsible for supplying funds for the war effort against Great Britain?
The treasury of the National Government is responsible for paying for all the supplies necessary for the Continental Army
Revenue for the war effort comes from a Stamp Tax, paid on all paper products used throughout the 13 states.
Each member state of the confederation is to provide funds, soldiers, and food as necessary for support of the Continental Army.
The people who own the companies that manufacture the weapons and munitions are responsible for the expenses of war.
4. The parameters of the economic order quantity (EOQ) model include all of the following except:
demand rate.
order quantity.
holding cost per unit per year.
ordering cost per order.
5. The ________ is the cost of ordering one unit ________.
underage cost, too few
overage cost, exactly
overage cost, too few
underage cost, exactly
6. Firm A's demand for a product is 100,000 units. It has a holding cost of $10 per unit per year and an ordering cost of $50 per order. If the firm is required to order an integer multiple of 500 units, what order quantity should it use to minimize ordering and holding costs?
1000
2000
1500
500