Goals of a Lean Business Model Include All of the Following

question 56

Multiple Choice

Goals of a lean business model include all of the following except:

• A)Eliminate waste.
• B)Better inventory control.
• C)Continuous improvement.
• D)Consistent production levels.
• E)Fewer product defects.

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Definitions:

Nash Equilibrium

A concept within game theory where each player's strategy is optimal when considering the decisions of other players, leading to a situation where no participant can gain by unilaterally changing their strategy.

Duopolists

Two firms or parties that dominate the market for a particular product or service.

Output Maximization

Output maximization refers to a strategy employed by firms to adjust their production in order to produce the maximum number of goods or services, given their resources.

Prisoners' Dilemma

A scenario in game theory in which two individuals acting in their own self-interest do not produce the optimal outcome, highlighting the conflict between individual benefit and collective benefit.