The Time It Takes to Produce One Unit of Product

question 7

Multiple Choice

The time it takes to produce one unit of product is called

• A)velocity.
• B)delivery time.
• C)cycle time.
• D)turnover.

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Definitions:

Per Capita GDP

Gross Domestic Product per person, a measure comparing the economic output of a country relative to its population size.

Personal Disposable Income

Personal disposable income is the amount of money that households have available for spending and saving after income taxes have been accounted for.

Savings

Money set aside for future use rather than spent immediately, often in a bank or other financial institution.

Educational Standards

Established criteria to measure the effectiveness of curriculum, teaching, and student learning in schools.