Which of the Following Is an Advantage of a Process

question 38

Multiple Choice

Which of the following is an advantage of a process layout?

• A) It provides flexibility to take care of change and variety.
• B) It requires less movement of material or people.
• C) It requires a smaller inventory.
• D) It requires less space for aisles and storage.

Grasp the significance of investment in economics and differentiate it from other financial activities.

Understand how the theory of comparative advantage underpins productivity and economic relationships.

Recognize the constraints posed by scarcity on production and consumption.

Understand the relationship between employment levels and the production possibilities frontier (PPF).

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Definitions:

Service Company

Business that provides a service.

Law Firm

A business entity formed by one or more lawyers to engage in the practice of law.

Manufacturer

Business that makes a product and sells it to its customers.

Accounting Organization

An entity or structured group that sets accounting standards, rules, and provides guidance for accounting practices and procedures.