Figure 5-2
Figure 5-2 shows a market with a negative externality.
-Refer to Figure 5-2.The efficient output level is
Definitions:
Just-In-Time (JIT) Scheduling
An inventory strategy companies employ to increase efficiency and decrease waste by receiving goods only as they are needed in the production process, thereby reducing inventory costs.
Materials
Physical substances or components used in the production of goods or in the execution of projects and services.
Workstation
A specific area or desk equipped with the necessary tools and technology for an individual to perform their job tasks.
Improve Workflow
To make enhancements in the process or set of processes through which work is accomplished, aiming for greater efficiency.
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