____________ Is a Strategy of Producing Customized (Made to Individual

question 125

Multiple Choice

____________ is a strategy of producing customized (made to individual specifications) products and services.

• A)Customer focus
• B)Make-to-order
• C)Mass customization
• D)Personalization

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Definitions:

Budget Lines

Graphical representations of all possible combinations of two goods that a consumer can afford given their income and the prices of the goods.

Indifference Curves

Graphical representations in microeconomics showing different bundles of goods between which a consumer is indifferent.

Linear

A relationship or function that can be graphically represented in two dimensions by a straight line.

Consumer Utility

A measure of satisfaction or happiness that consumers derive from consuming goods and services.