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The market demand curve for a public good
Unnecessary Waste
Refers to materials or resources that are excessively consumed or not utilized efficiently, leading to avoidable loss or expense.
Inventory
Merchandise on hand (not sold) at the end of an accounting period.
Work Around Products
Alternative solutions or products developed to circumvent problems or limitations in existing processes.
Lean Manufacturing
An organized approach for reducing waste in a manufacturing system without compromising on productivity.
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