Capsim Simulation Review Final Exam Update 2024(SCORED A+)

To invent a new product, which simulation inputs must be provided? - ANSWER Name, Size, Performance, MTBF Buyer's Market - ANSWER The best time for consumers to buy; characterized by large supply, small demand, and low prices. Seller's Market - ANSWER The best time for producers to sell; characterized by large demand, small supply, and high prices Which inputs to the simulation affect the December Customer Survey score for a product? - ANSWER Price, performance, size, MTBF, promo budget, sales budget, AR Policy What one factor affects the December customer Survey score, but is not an input? - ANSWER Age How can a person use the Production Report to determine the number of units produced? - ANSWER capacity * plant utilization = production What is the main reason for inventing a new Buyer's Market - ANSWER The best time for consumers to buy; characterized by large supply, small demand, and low prices.