According to JIT Philosophy

question 54

Multiple Choice

According to JIT philosophy,

• A)inventories of finished goods always should be available to meet customer demand.
• B)push-through manufacturing flows are the most efficient.
• C)maintaining inventories wastes resources and frequently covers up poor work or other problems.
• D)long production runs and large production lot sizes take advantage of economies of scale.

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Definitions:

Discretionary Income

The amount of an individual's income left for spending, investing, or saving after taxes and personal necessities have been paid.

Fiscal Policy

Government policies related to taxation and spending that are used to influence a country's economic conditions.

Private Spending

Expenditures made by individuals, households, and businesses in the private sector, excluding government spending.

Monetary Policy

Economic strategies and decisions made by a central bank or government agency regarding the supply of money and levels of interest rates in an economy.