Characteristics of Just-In-Time Partnerships Do NOT Include

question 106

Multiple Choice

Characteristics of just-in-time partnerships do NOT include:

• A) removal of in-transit inventory.
• B) large lot sizes to save on setup costs and to gain quantity discounts.
• C) long-term contracts.
• D) produce with zero defects.
• E) focus on core competencies.

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Definitions:

Aggregate Demand

The total amount of goods and services demanded in the economy at a given overall price level and in a given time period.

Aggregate Supply

The total supply of goods and services available to an economy from producers at a given overall price level and at a given time period.

Hyperinflation

An extremely high and typically accelerating inflation rate, causing a rapid erosion of currency's value.

Deflation

A decrease in the general price level of goods and services, often characterized by the increase in the value of money.