In Japan, Just- In- Time (JIT)systems Are Called Kanban

question 49

True/False

In Japan, just- in- time (JIT)systems are called kanban.

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Definitions:

Overlapping Demand

A situation where consumers' needs and desires partially coincide, leading to products or services being desired by multiple market segments.

Economic Background

The set of conditions including historical, geographical, and cultural factors that influence the economic activities and outcomes of a person or entity.

Purchasing Power

The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy.

Heckscher-Ohlin Theory

An economic theory stating that countries will export products that utilize their abundant and cheap factor(s) of production and import products that require resources that are rare or expensive domestically.