Question
Could you please help me solve the questions when you read the article How the World Ran Out of Everything This article is from
Could you please help me solve the questions when you read the article " How the World Ran Out of Everything"
This article is from the website: https://www-proquest-com.ezproxy.bellevuecollege.edu/docview/2534989700?accountid=35840
Questions: Using economic reasoning,examine the economic effect of "just in time inventory".What were the shocks to markets (choose as many as you want listing in the article)that affected outcomes for both consumers and firms?Using economic reasoning supported by economic models such as demand and supply, explain the true costs of keeping inventories low and how lessons learned may alter future decisions.
Terminology that can be used are opportunity costs,technological advancements,market structure, pricing power, competition, consumer and producer surplus, profits,demand shift factors, supply shift factors,sales, prices,income, expectations, elasticity,costs, revenue, trade, externalities etc...
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