Toyota Uses a Just-In-Time Production Method to Respond to Consumer

question 75

Essay

Toyota uses a just-in-time production method to respond to consumer demand for its vehicles.In essence,it relies on various cues to signal when new vehicles should be made rather than stocking inventory.This allows Toyota to respond very quickly to changes in consumer demand.Explain whether this system makes elasticity of supply relatively price elastic or price inelastic.

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Definitions:

Gestures

Nonverbal movements or signs made with parts of the body, used to communicate ideas, emotions, or commands.

Symbolic Gestures

Actions performed to convey messages or emotions without using words, often culturally specific.

First Words

The initial set of words a child learns and uses to communicate, often occurring between 10 to 15 months of age.

Zone of Proximal Development

A concept in developmental psychology referring to the difference between what a learner can do without help and what they can achieve with guidance and encouragement from a skilled partner.