An Automobile Company Allows Buyers to Select the Color,interiors,and Features

question 44

Multiple Choice

An automobile company allows buyers to select the color,interiors,and features of their cars based on their individual requirements.Though most parts of the cars can be altered to meet the buyers' specifications,their outer body remains the same.This is an example of _____.

• A)lean manufacturing
• B)standardization
• C)mass customization
• D)crowdsourcing
• E)benchmarking

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Definitions:

Obligations

Responsibilities or duties bound by law or contract that one party owes another, including the repayment of debts or fulfilling contractual agreements.

Company

An organization engaged in commercial, industrial, or professional activities, which can be a legal entity separate from its owners.

Cash Equivalents

Short-term, highly liquid investments that are readily convertible to known amounts of cash and have original maturities of three months or less.

Liquid Investment Assets

Liquid investment assets are financial assets that can be quickly converted into cash with minimal loss of value, such as stocks and bonds.