Indicate Whether Each of the Following Statements Is True or False

question 97

Short Answer

Indicate whether each of the following statements is true or false.

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Definitions:

Intermediate Goods

Products that are used in the production of final goods and services, rather than being sold directly to consumers.

Raw Materials

Basic materials that are in their natural, unprocessed form, used as inputs for production in manufacturing, construction, and other industries.

JIT

Just-in-Time is a management strategy that aligns raw-material orders from suppliers directly with production schedules.

Distribution Systems

Networks and processes involved in moving a product from the supplier to the customer, including logistics, warehousing, and retailing.