Which of the Following Is True for Process Layouts, but False

question 32

Multiple Choice

Which of the following is true for process layouts, but false for product-oriented layouts?

• A) low in-process inventories
• B) flexibility in equipment and labor assignments
• C) low variety of products
• D) high volume of output
• E) often solved by assembly line balancing

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Definitions:

Purely Competitive Industry

An industry with many sellers offering identical products, where no single seller can influence market price, leading to perfect competition.

Competitive Firms

Refers to companies operating in a market where there are many sellers and buyers, products are similar, and there is free entry and exit from the market.

Price Takers

Describes individuals or companies that accept the market price as given, without having the influence to alter the price of the good or service they are selling or buying.

Advertising

A marketing communication that employs an openly sponsored, non-personal message to promote or sell a product, service, or idea.