Which of the Following Statements Is True of Mass Customization

question 20

Multiple Choice

Which of the following statements is true of mass customization?

• A)​It focuses on customizing rather than standardizing products.
• B)It cannot cater to the needs of different customer groups.
• C)It uses technology to customize the products of a firm.
• D)​It does not respond to individual customers' needs.

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Definitions:

General Security Agreement

A legal document that secures repayment by granting the lender a security interest in a range of the borrower's assets.

Short-Term Financing

Short-term financing involves borrowing funds to meet immediate business needs for a period typically less than a year.

Cyclical

Refers to businesses or stocks that are heavily affected by economic changes, often experiencing higher growth in positive economic conditions and contractions during downturns.

Non-Cyclical

Refers to industries or stocks that are relatively unaffected by economic downturns or declines because they provide essential goods or services that continue to be in demand.