In the Sweet Action! supply chain, the flowers produce the nectar which is collected by the bees. The busy bees take this nectar and produce honey, which is collected by the beekeeper, who puts it in quart jars and supplies it to the baker
The baker produces a lovely array of confections, which are purchased by the local restaurant. The restaurant sells these confections to their loyal diners, who gleefully consume them and nag the chef for his recipe. Which of these statements about this supply chain is best?
A) The busy bees are within the span of the SCOR model of the local restaurant.
B) The beekeeper is within the span of the SCOR model of the local restaurant.
C) The loyal patrons are within the span of the SCOR model of the beekeeper.
D) The loyal patrons are within the span of the SCOR model of the busy bees.
Answer: B
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A given percentage increase in consumer demand can lead to a larger percentage increase in the demand for plant and equipment necessary to produce the additional output. Economists refer to this as ________
A) derived demand B) inelastic demand C) the acceleration effect D) a straight rebuy E) the sales cycle
Bad debts are recognized according to which of the following expense recognition principles?
a. Immediate recognition b. Direct matching c. Systematic and rational allocation d. Critical event recognition
________ is a system whereby the commissions average from 8 to 10 percent or are based on a sliding scale that becomes lower as the clients' media expenditures increase.
A. Cost-plus commission system B. Incentive commission system C. Fixed-fee commission system D. Negotiated commission system E. Pro-rata commission system
After many years of distributing her clothing through a large chain of department stores, Georgia, a fashion designer, decides to open a boutique to exclusively sell her clothing directly to consumers. Georgia is following a(n) ________ strategy.
A. forward vertical integration B. concentration on a single industry C. forward horizontal integration D. unrelated diversification E. backward vertical integration