Avon International Recently Changed Its Production Processes for Cosmetic Products;the

question 55

Multiple Choice

Avon International recently changed its production processes for cosmetic products;the company has developed standard components that can easily be connected with other standard components to increase the variety of final products.This type of product development strategy is called ____.

• A)customization
• B)modularity
• C)saturation
• D)consortium approach

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Definitions:

Frictional Unemployment

A type of unemployment that occurs when workers are between jobs, either because they are searching for new positions or are transitioning from one job to another.

Full Employment

A condition where every available work resource is employed in the most financially efficient method.

Labor Force Entrants

Individuals who are entering the workforce for the first time or after an absence, contributing to the available labor supply.

Real GDP

Gross Domestic Product adjusted for inflation, which accurately reflects the value of goods and services produced by an economy.