What’s on the information technology unit test?
Answer:
The correct answer is option b. all entities that facilitate product distribution.
Explanation:
A supply chain is an integrated network between the company and its back end distributors. It is their responsibility to supply the manufactured product to the end customer.
This closely knitted network consists of different people, activities, entities, information systems, resources and channels.
For example an example of supply chain activity would be farming. From crops to the end customer.
Answer:
Equilibrium quantity would increase. there would be an indeterminate effect on equilibrium price
Explanation:
If fewer people go on vacation fewer people would board planes. As a result, the demand curve for planes would shift inwards. This would lead to a decrease in equilibrium price and quantity.
As a result of the higher cost of providing services, fewer planes would be in operation. This would lead to an inward shift of the supply curve. Equilibrium price would increase and equilibrium quantity would decrease.
Taking this two effects together, equilibrium quantity would increase. there would be an indeterminate effect on equilibrium price.
