Principles of Logistics and SC

What is the difference between imports and exports?

• Imports are goods purchased from another country.

• Exports are goods sold to another country.

• Both A and B.

• None of the above.

What does the term 'Comparative Advantage' refer to?

• The ability of a country to produce goods at a lower opportunity cost.

• The total value of a country's exports minus its imports.

• An agreement between countries to reduce trade barriers.

• The movement of goods across international borders.

What is the role of customs in international trade?

• To enforce laws and regulations at borders.

• To collect revenue through tariffs and duties.

• To protect domestic markets from illegal goods.

• All of the above.

What are the main principles of logistics?

• Transportation, Warehousing, Inventory Management.

• Marketing, Sales, Customer Service.

• Production, Distribution, Retail.

• None of the above.

What is the definition of logistics?

What is the historical origin of logistics?

What is competitive advantage in logistics?

• The ability allows a company, organization, or individual to outperform its competitors

• The ability to offer lower prices than competitors.

• The ability to provide better customer service than competitors.

• All of the above.

What are the factors that typically achieve competitive advantage in logistics?

What are the benefits of roadways in transportation?

• Door-to-door service

• Flexibility

• Reliability

• Can reach remote locations

• All of them

What are the challenges faced by roadways in transportation?

• Multi point octroi

• Speed

• Unauthorized local levy

• Perfect conditions of road

• Bulk Transportation