8. Generally, as demand for products increase, so the ... . for transport facilities will increase. (a) Demand (b) Desire (c) Supply (d) Transfer 9. The purpose of distribution is to ensure among other things that a customer receives an order at the right place, in the correct quantity, and: (a) At the right price (b) At the right time (c) In the best condition (d) All of the above 10. A good that must be somewhere on or before a certain specific time is described as: (a) Form-sensitive good (b) Perishable good (c) Place-sensitive good (d) Time-sensitive good 11. An effective distribution system in a nation delivers all of the following except: (a) Enhances profitability of fims (b) Reduces the cost of production (c) Increases the responsiveness of firms (d) Increases the frequency of movement along the supply chain 12. At higher prices, a lower number or amount of transport services will be demanded or purchased than at lower prices. Ceteris paribus: This is often referred to as: (a) A statement of fact on transport services (b) The theory of demand for transportation (c) The Law of demand for transportation (d) All of the above 13. There are a number of factors both human and non-human that affect or impact the effectivencss of any distribution network. Which of the following is not one of them? (a) Flexibility of the system (b) Government involvement (c) People (d) Places 14. Transport and distribution operations that are environmentally friendly are referred to as: (a) Efficient transportation operations (b) Effective distribution operations (c) Globally sensitive operations (d) Green operations

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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8. Generally, as demand for products increase, so the
for transport facilities will
.......
increase.
(a) Demand
(b) Desire
(c) Supply
(d) Transfer
9. The purpose of distribution is to ensure among other things that a customer receives an order at
the right place, in the correct quantity, and:
(a) At the right price
(b) At the right time
(c) In the best condition
(d) All of the above
10. A good that must be somewhere on or before a certain specific time is described as:
(a) Form-sensitive good
(b) Perishable good
(c) Place-sensitive good
(d) Time-sensitive good
11. An effective distribution system in a nation delivers all of the following except:
(a) Enhances profitability of firms
(b) Reduces the cost of production
(c) Increases the responsiveness of firms
(d) Increases the frequency of movement along the supply chain
12. At higher prices, a lower number or amount of transport services will be demanded or
purchased than at lower prices. Ceteris paribus: This is often referred to as:
(a) A statement of fact on transport services
(b) The theory of demand for transportation
(c) The Law of demand for transportation
(d) All of the above
13. There are a number of factors both human and non-human that affect or impact the
effectivencss of any distribution network. Which of the following is not one of them?
(a) Flexibility of the system
(b) Government involvement
(c) People
(d) Places
14. Transport and distribution operations that are environmentally friendly are referred to as:
(a) Efficient transportation operations
(b) Effective distribution operations
(c) Globally sensitive operations
(d) Green operations

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Meaning of Demand and Supply:

The term demand refers to the willingness of an individual to purchase a particular commodity product at a given market price, thus refers to the demand for a commodity.

On the other side the term supply refers to the situation under which a seller produces a product in the market at a certain fixed price, thus refers to quantity supplied for a commodity.

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