A Manufacturing Approach That Designs Products with Attention to How

question 1

Multiple Choice

A manufacturing approach that designs products with attention to how their component parts will be used when the product life ends is called:

• A) design for disassembly.
• B) design for engineering.
• C) product engineering.
• D) benchmarking.
• E) continuous improvement.

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Definitions:

Perfectly Elastic

Describes a situation where the quantity demanded or supplied responds infinitely to changes in price.

Demand Schedule

A table listing various quantities of a good or service that consumers are willing to purchase at different price levels, illustrating the relationship between price and quantity demanded.

Price Taker

A seller (or buyer) that is unable to affect the price at which a product or resource sells by changing the amount it sells (or buys).

Price Maker

A market participant that has the power to influence the price of a product or service by controlling its supply, its demand, or both.