Which of the Following Are Strategic Objectives of JIT

question 87

Multiple Choice

Which of the following are strategic objectives of JIT?

• A)increasing inventory
• B)improving a firm's competitive position
• C)increasing inventory cost
• D)improving a firm's non-value-added activities

---

Definitions:

Natural Scarcity

A situation where resources are limited in availability due to natural conditions, not enough to meet unlimited human wants.

Usury Laws

Usury Laws are regulations governing the interest rate that can be charged on a loan, designed to protect consumers from excessively high rates.

Free Market

An economic system where prices for goods and services are determined by the open market and consumers, in which the laws and forces of supply and demand are free from any intervention by a government or other authority.

Entrepreneur

An individual who, instead of working as an employee, runs a small business and assumes all the risks and rewards of a given business venture.