Which of the Following Contributes to the Competitive Advantage Enjoyed

question 26

Multiple Choice

Which of the following contributes to the competitive advantage enjoyed by firms using lean production?

• A) backup employees to cover for absenteeism
• B) one hundred percent inspection to remove defects
• C) dedicated equipment to reduce unit costs
• D) safety stocks to prevent stockouts
• E) greater flexibility to cope with change

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Definitions:

Extraction Quantity

The volume or amount of natural resources, such as minerals, oil, or gas, that is removed from the earth or harvested.

Future Profits

Future profits represent the anticipated earnings or financial gains a business expects to achieve in the coming periods.

Coal Mining

The process of extracting coal from the ground, an important activity for generating electricity and various industrial processes.

User Cost

The cost of using a good or service, which encompasses not only the purchase price but also the costs associated with using and maintaining it.