A Just-In-Time Inventory System Usually Reduces Costs For

question 202

Multiple Choice

A just-in-time inventory system usually reduces costs for:

• A) both the producer and its suppliers.
• B) suppliers, but not the producer.
• C) the producer, but not its suppliers.
• D) neither the supplier nor the producer, though it does lead to more flexibility for both.

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Definitions:

M

The money supply—currency, checking deposits, and check-like deposits (identical to M1).

Real GDP

Gross Domestic Product adjusted for inflation, which provides a more accurate reflection of an economy's size and growth rate over time.

GDP

Short for Gross Domestic Product, it's the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.

MV

An abbreviation that can stand for "Market Value," representing the current price at which an asset or service can be bought or sold.