Q.1

Which of the following is a function of inventory?

  • to take advantage of quantity discounts
  • to decouple various parts of the production process
  • to provide a selection of goods for anticipated customer demand and to separate the firm from fluctuations in that demand
  • All the above
Q.2

Which of the following statements about financial aid are true?

  • Financial aid is available to community college students.
  • Most high school varsity sports team members will receive an athletic scholarship.
  • Elite, private colleges don't offer financial aid packages.
  • Only children of unemployed parents can't qualify for financial aid.
Q.3

In the expansion phase of a business cycle

  • economy moves from a trough to a peak.
  • economy moves from a peak to a trough.
  • economy moves from a trough to a contraction.
  • economy moves from a peak to a peak.
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