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It Is Said That One of the Benefits of the Just-In-Time

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Essay

It is said that one of the benefits of the Just-In-Time (JIT)system is that it can't hide defective products.What does this mean?


Definitions:

Isocost Line

In economics, a line that represents all combinations of a firm’s factors of production that have the same total cost.

Total Cost

The complete expense incurred in the production of a set amount of goods or services, including both fixed and variable costs.

Cost Of Capital

The required return necessary to make a capital budgeting project, such as building a new plant, worthwhile.

Cost Of Labor

The total cost incurred by employers to compensate employees, including wages, benefits, and taxes associated with employing labor.

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