Dewey Dare Is a Production and Operations Manager with a Clothing

question 61

Multiple Choice

Dewey Dare is a production and operations manager with a clothing manufacturer. He has been looking into a system that will enable his company to take measurements from a customer and program machines to design and produce custom-cut clothes at little additional cost. This type of system is an example of the benefits of:

• A) mass production.
• B) just-in-time production systems.
• C) the PERT method.
• D) CAD/CAM.

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Definitions:

Inputs Hiring

The process of acquiring the necessary resources, such as labor and raw materials, required for the production of goods or services.

Monopoly and Monopsony

A market structure where a single company dominates the supply side as a monopoly, or the buying side as a monopsony, of a market.

Resource Markets

Markets where productive inputs like labor, raw material, and capital are bought and sold.

Marginal Productivity Theory

A principle stating that the wage paid to a factor of production, such as labor, will equal the additional output or marginal product that the factor produces.