Chapter 1: WHAT IS ECONOMICS?
A. Definition of economics
o Fundamental economic problems basically arise from our wants exceeding our
o Scarcity is our inability to satisfy all our wants. Because we face scarcity, we
must make choices.
their biggest concern was whether they would be able to make enormous sections of the wings
and fuselage out of carbon-fiber plastic. What they didn't count on was a shortage of nuts and
bolts to hold it all together.
Treating the hardware as a c
Boeing's Nuts-and-Bolts Problem
Shortage of Fasteners Tests Ability to Finish Dreamliners
J. LYNN LUNSFORD and
Updated June 19, 2007 12:01 a.m. ET
When Boeing Co. engineers first set about developing their new 787 Dreamliner, their biggest
Student ID 162009856
Some of the main causes of the fastener crisis were that Boeing focused too much on
the material of the wings and fuselage and not enough on the smaller, yet crucial parts required
to hold everything together
P&L VIEW OF MAKE VS. BUY DECISION - BASE CASE
New Machines (Deprec.)
Build improvement (Deprec.)
An integrated system like Virginia's is a must for states that want to procure goods and
services efficiently, and it's good for suppliers as well.
Virginia officials knew that their traditional,
PM Lunch and Homework 11-2
10:00 AM - 12:50 PMDEMAND PLAN & FULF
Key Benefits of Contract Management and EProcurement
BY AMY JACKSON ON MARCH 20, 2016PROCUREMENT
Contract management and E-Procurement are essential parts of SCM that
provide saving potential. Contract management works with managers in supplier
Economics and Micro Vs Macro, Scarcity, Opportunity Costs
Economic problem facing every society:
Unlimited wants but limited resources in order to produce the goods and services necessary to satisfy
the unlimited wants.
Study of the
Quality health plans & benefits
2015 Womens Contraceptive
Drugs and Devices List
05.03.400.1 I (1/15)
Nongrandfathered plans effective or renewing on or after
August 1, 2012, and su