A Productive System Whose Focus Is on Optimizing Processes Through

question 17

Multiple Choice

A productive system whose focus is on optimizing processes through the philosophy of continual improvement is called ________.

• A) lean manufacturing
• B) reengineering
• C) benchmarking
• D) just-in-time production
• E) statistical process control

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Definitions:

Government Regulation

Rules set by the government to control the way businesses can operate within an economy.

Production Costs

The expenses incurred during the process of creating a good or service, including labor, materials, and overhead costs.

Business Monopoly

A market structure characterized by a single seller or firm dominating the entire market, often leading to less competition and higher prices.

Price Equal

A situation where the market price stabilizes, reaching a point where supply equals demand.