Production Facilities That Are Flexible, in Terms of the Potential

question 35

Multiple Choice

Production facilities that are flexible, in terms of the potential to use different combinations of raw material inputs, are most valuable when

• A)the product's demand is highly volatile.
• B)the product's price is highly volatile.
• C)raw material prices are highly volatile.
• D)labor costs are highly volatile.

---

Definitions:

Conditions

Specific factors or circumstances that affect situations, actions, or phenomena, determining their outcomes or the manner in which they occur.

Dilemmas

Situations that require a choice between options that are or seem equally unfavorable or mutually exclusive.

Crises

Periods of significant change or turmoil in an individual's or group's life, often prompting a need for major decisions or adjustments.

Socialization

The process by which individuals learn and adopt the values, norms, and behaviors that are considered appropriate in their society.