A JIT Inventory System Would Be Especially Useful for a Company

question 88

Multiple Choice

A JIT inventory system would be especially useful for a company that manufactures

• A)toys associated with new movie releases.
• B)toothpaste.
• C)alarm clocks.
• D)motor oil.

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Definitions:

Optimal Combination

The best mix of different factors or elements (such as resources or inputs) to achieve a desired outcome or objective.

Inputs

The resources used in the production process, including labor, raw materials, and capital.

Least Costly

Refers to the option that requires the smallest amount of expense or effort to achieve a given outcome.

Perfectly Competitive

A market structure characterized by a large number of small firms, a homogeneous product, and free entry and exit, leading to efficient outcomes.