What is the systems approach to problem solving? How is this concept applicable to logistics management?
Answer: Systems approach indicates that a company’s objectives can be realized by recognizing the mutual interdependence of the major
functional areas of the firm, such as marketing, production, finance, and logistics.
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Two cities face identical prices for their housing. City A decided to be a pollution free city "Clean town" and all the factories would locate in city B "Smogville", we expect the prices of housing in city A "Clean town" to
a. increase b. decrease c. stay the same d. none of the above
Taxes that governments place on imported goods for reasons such as protecting sensitive industries, influencing humanitarian practices, and protecting against dumping are called ____________.
a. tariffs b. penalties c. restrictions d. limits
Productivity is a key concept for measuring
A. average inflation rates. B. employment levels. C. the health and prosperity of an economy. D. aggregate production function.
When government corrects a market with an externality present by allowing participants to buy up to the point where their net benefit is zero, they must be:
A. offering a Coase tax. B. imposing a tax. C. imposing a tariff. D. mandating a quota.