_____ Is a Work Configuration Used for Products or Services

question 100

Multiple Choice

_____ is a work configuration used for products or services that are made-to-order,and actually one of a kind.

• A)Job shop
• B)Custom shop
• C)Flow shop
• D)none of the above

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Definitions:

World Price

The price of a good or service in the international marketplace, influenced by the global dynamics of supply and demand.

Import Quota

A government-imposed limit on the quantity of a particular good that can be imported into a country.

Equilibrium Price

The price at which the quantity of goods demanded equals the quantity of goods supplied, resulting in a stable market condition.

Import Competition

The competition that domestic firms encounter from the products and services of foreign producers.