What Is Takt Time

question 26

Multiple Choice

What is takt time?

• A)Time between placement and receipt of an order
• B)The latest time an activity can be completed in a project
• C)Cycle time for a product
• D)The time spent by a customer waiting in queue

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Definitions:

Predatory Pricing

The strategy of setting prices at a very low level with the intent to eliminate competition, considered illegal in many jurisdictions.

Price Discrimination

The strategy of selling the same product to different customers at different prices based on their willingness to pay.

Resale Price Maintenance

A practice where a manufacturer and its distributors agree on the minimum price at which a product can be sold to consumers.

Vertical Price Fixing

A form of price fixing where participants at different levels of the same supply chain coordinate to control prices, often illegal.