STUDY QUESTIONS 1. Explain why inventory costs and inventory levels have declined relative to GDP over the last 20 years...
Homework Answers
Inventory costs and inventory levels have declined due to high degree of mechanisation using Robotics and Meticulous planning by organisations as well as consolidation in manufacturing sector over years.
Organisinations have adopted lean manufacturing which eliminates redundant inventory and adopted Justin time management which decreases costs and excess pile of inventory as well.
Overall this is beneficial to economy as profitability has maximised and wastage has minimised causing organisation to report higher profits and subsequently raise higher wages. This causes high disposable incomes which create additional growth in consumption and aggregate demand and hence real GDP rises in long run.
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STUDY QUESTIONS 1. Explain why inventory costs and inventory levels have declined relative to GDP over the last 20 years...
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