Avion Textiles,a Cloth Manufacturing Company Implements a New Technology in Their

question 69

Multiple Choice

Avion textiles,a cloth manufacturing company implements a new technology in their production process to improve the speed at which the cloth is produced.To make effective use of this technology,the company decides to train its employees regarding the new technology.They also make changes in the quality check and sales teams to maintain the costs at profitable levels and deliver good quality products.This reformation in all the critical processes of the company to make them efficient is known as _____.

• A) outsourcing
• B) codetermining
• C) downsizing
• D) hedging
• E) reengineering

---

Definitions:

Demand Curves

Graphical representations showing the relationship between the price of a good and the quantity of that good consumers are willing and able to purchase at various prices.

World Price

The international market price for a product, influenced by global supply and demand.

Mutually Beneficial

A term describing agreements or situations that provide advantages or gains to all parties involved.

Production Possibilities

outlines the different combinations of goods and services that an economy can produce, given its available resources and technology.