________ Refers to a Situation in Which Facilities Are Spread

question 83

Multiple Choice

________ refers to a situation in which facilities are spread over several locations,with one facility for each national business environment in which the company markets its products.

• A) Continuous production
• B) Decentralized production
• C) Vertical integration
• D) Lean production

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Definitions:

Most Efficient Output

Refers to the highest amount of goods or services that can be produced with a given set of resources and technology without wasting any resources.

Computerization

The process of applying computer technology and systems to automate tasks, processes, and operations, transforming how work is done, data is managed, and information is shared.

Perfect Competition

A market structure characterized by a complete absence of rivalry among the producers, with many buyers and sellers, where all entities sell an identical product.

Perfect Knowledge

A hypothetical situation in economics where all consumers and producers have complete and instantaneous knowledge of all market prices, conditions, and trends.