The Essence of the Just-In-Time Philosophy Is to Eliminate Waste

question 117

True/False

The essence of the just-in-time philosophy is to eliminate waste.

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Definitions:

Federal Consumer Protection Laws

Legislation enacted by the federal government intended to ensure the rights of consumers, fair trade competition, and the free flow of truthful information in the marketplace.

Revoked Acceptance

The act of withdrawing acceptance of an offer in a contract, making the agreement void, under specific legal conditions.

Trade Modification

An alteration or change to the terms of a trade agreement or contractual relationship.

Consumer Transaction

Any transaction between a seller and a buyer for goods or services intended for personal, family, or household use.