Manufacturing Firms Should Typically Aim at Lowering the Costs of Value

question 73

Multiple Choice

Manufacturing firms should typically aim at lowering the costs of value creation by

• A) decreasing inventory turnover.
• B) stocking huge amounts of inventory.
• C) lowering the quality of products.
• D) increasing after-sales services cost.
• E) reducing production costs.

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Definitions:

International Trade

International trade involves the exchange of goods and services across international borders, allowing countries to expand their markets and pursue competitive advantages.

Tariffs

Taxes imposed by a government on imported goods and services to restrict imports or generate revenue.

Import Quotas

Restrictions set by a country on the quantity of goods that can be imported within a certain time frame to protect domestic industries.

Domestic Employment

The total number of people employed within a country's borders, reflecting the health of the economy and labor market.