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If What Is Occurring in China Continues for Two More

question 42

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If what is occurring in China continues for two more decades,China may move from third-world to industrial superpower status even more rapidly than Japan did.


Definitions:

Machine Hours

A measure of production output or activity based on the number of hours machinery is in operation, used in cost accounting to allocate expenses to products.

Cost of Quality Report

A detailed report that quantifies the total cost of quality-related efforts and deficiencies.

Activity Costs

The expenses associated with a specific business activity or operation.

Lean Manufacturing

A planned procedure for cutting down on waste in manufacturing operations without negatively affecting productivity.

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