According to the Specific Factors Trade Theory

question 33

Multiple Choice

According to the specific factors trade theory:

• A)Owners of factors specific to export industries lose when trade takes place,but owners of factors specific to import-competing industries gain
• B)Both owners of factors specific to export industries and owners of factors specific to import-competing industries gain from trade
• C)Both owners of factors specific to export industries and owners of factors specific to import-competing industries lose from trade
• D)Owners of factors specific to export industries gain when trade takes place,but owners of factors specific to import-competing industries lose

Identify the types of waste in a production system and understand the concept of value-added activities.

Understand supplier relationships and strategies within JIT systems.

Comprehend the role of inventory and setup times in achieving lower average inventory.

Understand the concept of a push versus pull system and the mechanisms of achieving a faster response to customer demands.

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Definitions:

Operant Conditioning

A method of learning that occurs through rewards and punishments for behavior, emphasizing the effects of consequences on behavior.

Conditioned Stimulus

A previously neutral stimulus that, after association with an unconditioned stimulus, elicits a conditioned response.

Conditioned Response

A learned reaction to a previously neutral stimulus, obtained through repeated association with an unconditioned stimulus.

Biologically Primed

The concept that certain behaviors or responses are innately predisposed due to evolutionary history.