Draw Two Different Business Cycles on the Same Graph

question 13

Essay

Draw two different business cycles on the same graph.Show one without countercyclical fiscal policy and one with countercyclical fiscal policy.Referring to your diagram,discuss why governments employ countercyclical fiscal policy.

Identify the benefits of lean production and agile manufacturing in modern business practices.

Comprehend the principles and importance of Total Quality Management (TQM) in organisational operations.

Recognize the significance of international standards like ISO 9000 in enhancing quality across operations.

Distinguish between different approaches to manufacturing such as mass customisation and lean production.

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Definitions:

Federal Arbitration Act

A U.S. federal law enacted in 1925 that provides for contractual agreements to arbitrate disputes rather than litigate them in courts.

Arbitration Agreements

Legal contracts that require parties to resolve disputes through arbitration rather than litigation.

Courts

Judicial tribunals that meet in a regular place and apply the law in an attempt to settle disputes by weighing the arguments presented by advocates for each party.

Settle

To resolve a dispute, agreement, or financial transaction in a final and conclusive manner, often through negotiation or payment.