All Types of Capital

question 57

Multiple Choice

All types of capital

• A)are forms of resources that can be used in future production
• B)require a physical existence
• C)earn an economic rent
• D)yield profits for their owners
• E)require obtaining more education and job skills

---

Definitions:

JIT Systems

Just-In-Time Systems refer to a strategy to increase efficiency and decrease waste by receiving goods only as they are needed in the production process.

Inventory

The quantity of goods or materials that a business holds for the purpose of resale or production.

JIT Partnerships

Collaborations between companies and their suppliers to implement Just-In-Time inventory strategies, aiming to reduce waste and increase efficiency.