The Quality of Incoming Parts and Materials for a Manufacturing

question 7

Multiple Choice

The quality of incoming parts and materials for a manufacturing firm has become more critical with the introduction of:

• A)Automation.
• B)Just-in-time scheduling.
• C)Quality awards.
• D)Information technology.

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Definitions:

Comparative Advantage

The ability of an individual, firm, or country to produce a certain good or service at a lower opportunity cost than others.

Specialize

To focus on a specific area of knowledge, skill, or production, often improving efficiency and quality in the process.

Produce

To create, manufacture, or grow goods and products.

Heckscher-Ohlin Model

An economic theory that proposes countries export what they can most efficiently and abundantly produce, based on their factor endowments of labor, capital, and resources.