Downtime and Lost Efficiency Are Both Examples Of

question 7

Multiple Choice

Downtime and lost efficiency are both examples of:

• A) ordering costs
• B) setup costs
• C) holding costs
• D) stockout costs
• E) depreciation costs

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Definitions:

Worker Productivity

A measurement of the efficiency and effectiveness with which workers accomplish tasks, often gauged as output per unit of input, such as hours worked.

Real Earnings

Earnings adjusted for differences in the general level of prices across time periods or geographic areas. When real earnings are equal, the same bundle of goods and services can be purchased with the earnings.

Strong Unions

represent organizations that negotiate with employers on behalf of employees regarding wages, work conditions, and benefits.

Identical Preferences

The notion that two or more individuals value choices or outcomes in exactly the same way, having congruent likes and dislikes.