Examlex
A just-in-time (JIT) manufacturing system cannot be implemented without a commitment to:
Short-Run Total Cost
The total of all costs, both fixed and variable, involved in the production of goods or services in the short run.
Production Function
This concept describes the relationship between inputs used in production and the resulting output.
Labor
The human effort, whether physical or mental, that is used in the production of goods and services.
Total Cost
Total cost is the sum of all expenses incurred in the production of goods or services, including fixed and variable costs.
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