In a Just-In-Time Inventory System,suppliers

question 60

Multiple Choice

In a just-in-time inventory system,suppliers:

• A)have a great deal of flexibility in determining when to make deliveries.
• B)enjoy much lower delivery costs.
• C)become more like a department in the producing firm rather than a separate business.
• D)deliver materials and parts in large quantities only a few times a year.

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Definitions:

Optimal Employment

The level of employment where the productivity is maximized in relation to the number of employed workers.

Marginal Product

The extra output that is produced by using one more unit of a factor of production, like labor or capital, holding other factors constant.

Level of Employment

The sum of all individuals currently holding either full-time or part-time jobs within the economy.

Motor Manufacturing Technology

The techniques, machinery, and processes used in the production of motors and engines.