JIT Concepts

question 77

Multiple Choice

JIT concepts

• A)can be effectively implemented in organizations that are only partially automated.
• B)are only appropriate for use with CIM systems.
• C)involve shifting from a capital-intensive to a labor-intensive process.
• D)require full computerization of the JIT manufacturing process.

---

Definitions:

Real GDP

Gross Domestic Product adjusted for inflation, which provides a more accurate reflection of an economy's size and growth rate over time.

GDP

Short for Gross Domestic Product, it's the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.

MV

An abbreviation that can stand for "Market Value," representing the current price at which an asset or service can be bought or sold.

Percentage

A portion or part of a whole, expressed as a fraction of 100.