Modular Design Supports Mass Customization by Enabling Quick Assembly of Modules

question 44

True/False

Modular design supports mass customization by enabling quick assembly of modules to provide customized configurations for individual customers.

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Definitions:

Standard Plus Plans

Insurance plans that offer basic coverage with the option to purchase additional benefits according to individual needs.

Deferred Profit Sharing

A retirement plan in which employees receive a portion of the company's profits at a later date, usually at retirement.

Pension Plan

A retirement plan that requires an employer to make contributions into a pool of funds set aside for an employee’s future benefit.

Share Appreciation Rights

A type of employee benefit plan that gives an employee the right to receive cash or stock based on the increase in the price of the company shares.