The Advantages of Standardization Include Which of the Following

question 18

Multiple Choice

The advantages of standardization include which of the following?
I.Extending the product life cycle
II.Fewer parts to deal with in inventory
III.Reduced time and cost to train employees
IV.Purchasing is more routine

• A) I, II
• B) I, IV
• C) I, II, III
• D) II, III, IV
• E) I, II, III, IV

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Definitions:

Negotiation

The process of discussing and arriving at a mutual agreement between parties with the intent to reach a settlement or resolve differences.

Concessions

Special rights or privileges granted by an authority or government to a person or group, often in a business context.

Governmental Powers

The authority granted to government bodies to enact laws, administer justice, and implement public policies.

Constitutional Limitations

Constraints placed on governmental power by a constitution, designed to protect the rights and liberties of the populace.