When a Customer Is Shuttled Between a Variety of Operations

question 92

Multiple Choice

When a customer is shuttled between a variety of operations and where each move does not substantially add to value it refers to:

• A) duplication.
• B) overproduction.
• C) unclear communication.
• D) unnecessary motion.
• E) opportunity lost.

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Definitions:

Profits

The financial gain realized when the revenue earned from business activities exceeds the expenses, costs, and taxes needed to sustain those activities.

Output

The quantity of goods or services produced by a business, industry, or economy within a specific period.

Shutting Down

A short-run decision by a firm to cease production temporarily due to unfavorable market conditions.

Long Run

A period in economics where all factors of production and costs are variable, allowing for full adjustment to changes.