Build- It- Fast Inc

question 79

Multiple Choice

Build- It- Fast Inc. is analyzing the performance of its assembly line. Management observes that the line assembles 80 widgets per hour and that the total productive time needed to assemble one widget is 170 seconds. The assembly line currently has 6 stations. What is the efficiency of this line?

• A) less than 70%
• B) 70- 80%
• C) 81- 90%
• D) more than 90%

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Definitions:

Consideration

In a contractual agreement, it is the value or promise that each party agrees to exchange.

Promissory Estoppel

A legal principle that enables a party to recover on a promise made when they have reasonably relied on that promise to their detriment, even if a formal contract does not exist.

Illusory Contract

An agreement that fails to bind at least one of the parties due to the lack of a definite promise or because the terms allow for withdrawal without consequence.

Adequacy Of Consideration

The principle that the value exchanged in a contract must be fair and reasonable to both parties involved.