Question

In the Purchasing Process - Level 0 Diagram, a data flow called "vendor packing slip" would most likely be sent by the vendor to which of the following processes?

(A) none of the above
(B) receive goods and services
(C) order goods and services
(D)determine requirements

Answer 1

The 'vendor packing slip' is typically sent to the 'receive goods and services' process in the Purchasing Process - Level 0 Diagram. A price floor set above equilibrium does not shift the demand or supply curves but can create a surplus. The Circular Flow Diagram illustrates the exchanges of goods, services, and labor between households and firms.Thus the correct option is B.

Step-by-step explanation:

In the Purchasing Process - Level 0 Diagram, the "vendor packing slip" would most likely be sent by the vendor to process (B) receive goods and services. This document typically accompanies the delivered items, and it provides details about the contents and instructions for handling and processing the shipment. The packing slip is an essential part of verifying that the goods received match the items that were ordered, making it a critical aspect of the goods receipt phase in the purchasing cycle.

Regarding the question about price floors, a price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product. A price floor that is set above the equilibrium price does not shift the demand or supply curve; instead, it can create a surplus by preventing the price from falling to its equilibrium level where supply equals demand. This results in suppliers being willing to supply more at the price floor than consumers are willing to buy.