One Advantage of Lean Systems Is That They Are More

question 5

True/False

One advantage of lean systems is that they are more resistant to supply chain disruptions.

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Definitions:

Profit

The financial gain attained after subtracting total expenses from total revenues.

Competitive Price-Taker

A business that has no control over the market price and must accept the prevailing market price set by supply and demand forces.

Marginal Revenue Curve

A graphical representation showing how marginal revenue varies with changes in quantity sold.

Market Price

The present cost at which a good or service may be purchased or sold on the market.