Match the Term with Its Definition

question 117

Multiple Choice

Match the term with its definition. Some terms may not be used.
-Manufacturing operations used to create unique but similar products

• A)Continuous manufacturing
• B)Coop
• C)Flexible manufacturing systems
• D)Job shops
• E)Lean production
• F)Make-or-buy decisions
• G)Operations
• H)Outsourcing
• I)Project manufacturing
• J)Repetitive manufacturing
• K)Supply Chain Operations Reference model
• L)Synchronous manufacturing

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Definitions:

External Benefit

A positive effect on a third party or the general public that arises from a transaction between others.

Producer Surplus

The difference between what producers are willing to accept for a good or service and what they actually receive, due to higher market prices.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually do pay.

Financial Viability

The ability of an entity or project to manage its expenses and generate sufficient revenue to continue operating effectively.