The Main Goal of the Lean Business Model Is the Elimination

question 66

True/False

The main goal of the lean business model is the elimination of waste while satisfying the customer and providing a positive return to the company.

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Definitions:

John Maynard Keynes

A British economist whose theories on the causes of prolonged unemployment and the role of government intervention in economies formed the basis of Keynesian economics.

Full Employment

A condition in the economy where all potential labor forces are utilized in the most economically effective manner.

Market Economy

An economic system where decisions regarding investment, production, and distribution are based on supply and demand, and prices of goods and services are determined in a free price system.

Aggregate Demand

The sum total of all economic needs for goods and services, appraised at a constant overall price level in a stated period.