Which of the Following Is a Characteristic of Flexible Factories

question 95

Multiple Choice

Which of the following is a characteristic of flexible factories?

• A) Scheduling decisions are made by top management
• B) Having relatively shorter production runs
• C) Focusing on a variety of products simultaneously
• D) Moving large orders of standard products through assembly lines
• E) Using centralized scheduling

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Definitions:

Price-Inelastic

A characteristic of a good or service for which demand does not significantly change with a change in price, often essential or with few substitutes.

Agricultural Products

Items derived from agriculture or farming, including crops and livestock.

Price Support Programs

Government initiatives designed to maintain the market price of a commodity or product at a minimum level to protect producers from market fluctuations.

Competitive Market

A market structure where many sellers are offering products or services that are similar, fostering high levels of competition.