A Just- In- Time (JIT) System Is the Organization of Resources

question 66

True/False

A just- in- time (JIT) system is the organization of resources, information flows, and decision rules that can enable an organization to realize the benefits of the JIT philosophy.

---

Definitions:

Real GDP

Gross Domestic Product adjusted for inflation, measuring the value of goods and services produced by an economy in a given year in constant prices.

Advanced Economy

A term used to describe countries with a high level of income per capita and industrial development, along with a high Human Development Index (HDI).

Economic Growth

An increase in the capacity of an economy to produce goods and services, compared from one period of time to another.

United Kingdom

A nation with sovereignty positioned to the northwest of mainland Europe, consisting of England, Scotland, Wales, and Northern Ireland.