JIT Avoids Shutdowns Due to Materials Shortage in All of the Following

question 119

Multiple Choice

JIT avoids shutdowns due to materials shortage in all of the following ways EXCEPT

• A)using total preventive maintenance.
• B)holding inventory.
• C)using total quality control to reduce defective materials.
• D)working with suppliers to ensure the availability of materials.

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Definitions:

Marginal Costs

The financial implication of manufacturing an extra unit of a product or service.

Market Demand

The total quantity of a good or service that all consumers in a market are willing and able to purchase at various prices within a given period.

Economic Profit

The profit a firm makes after subtracting both its explicit (direct) and implicit (indirect or opportunity) costs from its total revenues.

Short-Run Data

Information or statistics collected over a brief period, often used to make immediate decisions or analyze short-term economic trends.