A JIT/lean System Is Not Effective When the Industry Consists

question 69

True/False

A JIT/lean system is not effective when the industry consists of a tiered supplier network.

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Definitions:

Cyclical Unemployment

Employment that fluctuates with the business cycle, increasing during economic downturns and decreasing during periods of economic growth.

Economy

The system by which a country's money and goods are produced, distributed, and consumed.

Boom

A period of significant economic growth, expansion, and increased productivity, often characterized by high demand, low unemployment, and rising prices.

Full Employment

An economic situation where all available labor resources are being used in the most efficient way possible, typically characterized by the absence of cyclical unemployment.