According to ManagementStudyGuide.com, an educational portal, inventory is needed to keep a company independent of outside changes in supply and demand. Maintaining inventory also allows a company to take advantage of ou... More »

Conducting an inventory of office supplies is an ongoing process which depends equally on accurate classification of goods and on the keeping of accurate inventory records. Since the process does not end, it is vital tha... More »

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The inventory turnover ratio is a formula that displays how many times inventory is replaced over a period of time by dividing cost of goods sold over average inventory. This ratio is used to identify the efficiency of i... More »

Market shortage is a situation where the demand of a product is higher than the supply. In most cases, a shortage in the market leads to an increase in commodity or service prices. In ideal situations, the market should ... More »

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Propane dealers set their prices based on variables such as the current cost of crude oil, refinery costs, seasonal climate changes, and the balance between supply and demand. Prices can also vary depending on whether th... More »

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Gas prices fluctuate according to changes in supply, demand, infrastructure and the value of the dollar. These changes emanate partly from shifting geopolitical dynamics around the world, such as the gasoline needs of de... More »

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Elasticity is a term that describes how much the demand or supply for a product or service changes in relation to that product’s price. Each product on the market today has a different level of elasticity. Products consi... More »