In material requirement planning there is a term called low-level coding that governs the "explosion" process. what does this term generally describe / relate to? a. a final item has only a few levels in the bom structure. b. the lowest-paid staff member in the production department performs the coding. c. the top level of the bom is below level zero and that boms are not organized around the finished product. d. a component item is coded at the lowest level at which it appears in the bom structure. e. the code being used is the code for the lowest level in the bom structure.

What is the difference between total utility and marginal utility? a. marginal utility is subject to the law of diminishing marginal utility while total utility is not. b. total utility represents the consumer optimum while marginal utility gives the total utility per dollar spent on the last unit. c. total utility is the total amount of satisfaction derived from consuming a certain amount of a good while marginal utility is the additional satisfaction gained from consuming an additional unit of the good. d. marginal utility represents the consumer optimum while total utility gives the total utility per dollar spent on the last unit.

Which of the following best explains how trade enables greater specialization among producers? a. trade diversifies the market by bringing specialized goods from around the world. b. trade requires distribution networks and adds one more step to the production process. c. trade enables producers to open up new markets for their goods and services. d. trade allows people to focus on one kind of production and trade for their other needs.

Which of the following is one of the five fundamental questions? which products will be in scarce supply and which in excess supply? who should appoint the head of the central bank? how much should society save? correct what goods and services will be produced?