Principles of Lean Operating Systems Include All of the Following

question 32

Multiple Choice

Principles of lean operating systems include all of the following except

• A)Eliminate waste
• B)Reduce workforce
• C)Increase speed and response
• D)Reduce cost

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Definitions:

Raise Price

An action taken by producers or sellers to increase the cost at which goods or services are sold, often in response to market conditions.

Single Firm

Refers to an individual business entity that operates in a market, typically producing goods or services.

Monopoly

A market structure in which a single seller dominates the market for a particular good or service, without any close substitutes.

Monopolistic Industry

An industry dominated by a single firm that has control over pricing and the market, facing little to no competition.