The economic order quantity (EOQ) model is well accepted. However, there are weaknesses associated with
several of its assumptions. What are these weaknesses?
What will be an ideal response?
Weakness associated with the EOQ model assumptions include the assumption of constant demand, constant unit
price, constant carrying costs, constant ordering costs, instantaneous delivery, and independent orders. Many of these
shortcomings can be overcome with modifications of the basic model.
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The primary influence on a person’s value system is personality traits
a. true b. false
Personal contacts are of very little value in the job-search process
Indicate whether the statement is true or false.
Accounting is an information and measurement system that does all of the following except:
A. Eliminates the need for interpreting financial data. B. Records business activities. C. Helps people make better decisions. D. Communicates business activities. E. Identifies business activities.
How has the North American Free Trade Agreement affected U.S. unions?
A) Mexican organizations have increased wages so that U.S. firms no longer have a cost advantage while moving low-skill jobs to Mexico. B) Mexico has moved several manufacturing industries to the United States, thus providing employment opportunities to unionized workers. C) U.S. firms with unionized workforces have moved low-skill jobs to Mexico, thus reducing union membership. D) Low tariffs and restrictions have allowed U.S. firms to sell more products to Mexico, thus increasing employment for union members.