Which of the following terms describes how a good is produced in stages?
a. supply chain
b. value chain
c. supply trade
d. value trade
b. value chain
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When firms set prices by adding a fixed percentage markup to marginal costs, they are likely
A) concerned with the rate of profit rather than its net amount. B) earning a satisfactory rather than a maximum profit. C) exploiting their customers. D) poorly managed. E) searching for the most advantageous prices to set on the basis of limited information.
Available data on the generation of MSW in the United States indicates that
a. durable goods represent the largest proportion by weight of all product groups b. plastics are the largest proportion by weight across all materials groups c. containers and packaging are the largest proportion by weight of all product groups d. none of the above
The notion that our ability to conserve natural resources is growing more rapidly than their supplies are dwindling is supported by the fact that
a. most economists do not regard the availability of natural resources as a determinant of productivity. b. the quantity of natural resources does not enter into any production function. c. inflation-adjusted prices of most natural resources have been stable or fallen over time. d. inflation-adjusted prices of most natural resources have risen over time.
Goods and services purchased from international sources are
A. Net exports. B. Gross investment. C. Imports. D. Exports.