Variability in Manufacturing Can Occur Because Engineering Drawings or Specifications

question 68

True/False

Variability in manufacturing can occur because engineering drawings or specifications are incomplete or inaccurate.

Understand the consequences of unethical actions in professional settings.

Comprehend the process of making ethical choices in business.

Grasp the factors influencing individual values including family, culture, and personal experiences.

Understand strategies to prevent corporate crime and promote ethical behavior.

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Definitions:

Price Exceeds Marginal Cost

A situation where the price of a good is higher than the marginal cost of producing it, often indicating imperfect competition.

Excess Capacity

The situation where a firm is producing at a lower scale of output than it has been designed to handle, resulting in unused productive capacity.

Source Of Inefficiency

Factors or situations that prevent an economy or system from achieving optimal allocation and utilization of resources, leading to wasted potential.

Product Diversity

The variety of different items that a company produces or that is available in a market.