The Lean Production Philosophy Has Been Slow to Be Adopted

question 23

True/False

The lean production philosophy has been slow to be adopted in service industries.

---

Definitions:

Exchange Rate

The price at which one currency can be exchanged for another, influencing international trade and investment.

Speculative Activity

Trading or investment practices that are high-risk, aiming for substantial profits based on predictions of market movements.

Currency Decline

Currency decline refers to the decrease in the value of a country's currency in relation to foreign currencies, leading to higher prices for imported goods and affecting international trade balance.

Major Currencies

The world's most widely traded currencies, including the U.S. dollar, Euro, Japanese yen, and British pound, among others.