Examlex

Solved

When a Company Switches from a Traditional System to a Just-In-Time

question 100

Multiple Choice

When a company switches from a traditional system to a just-in-time production and inventory system,what often happens to the quality of raw material purchased and the number of vendors that supply the firm? When a company switches from a traditional system to a just-in-time production and inventory system,what often happens to the quality of raw material purchased and the number of vendors that supply the firm?   A) Choice A B) Choice B C) Choice C D) Choice D E) Choice E


Definitions:

Economically Desirable

Attributes or actions that are beneficial from an economic standpoint, promoting efficiency, growth, or productivity.

Producer Surplus

The difference between the amount producers are willing to supply a good for and the actual amount they receive by selling it.

Market Price

The current price at which a goods or service can be bought or sold in a particular market.

Consumer Surplus

The gap between what consumers are prepared and capable of paying for a product or service and what they end up spending.

Related Questions