The Use of Total Quality Management and Flexible Manufacturing Practices

question 159

Multiple Choice

The use of total quality management and flexible manufacturing practices to reduce setup costs enhances a company's ability to use

• A)economic order quantity methods.
• B)just-in-time inventory methods.
• C)first-in,first-out inventory methods.
• D)last-in,last-out inventory methods.

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Definitions:

Full Employment

A situation in which all available labor resources are being used in the most economically efficient way.

Workers Demanded

The number of employees that employers are willing to hire at a given wage rate.

Economic Immigration

The movement of individuals to a new country with the aim of gaining employment or pursuing investment opportunities, often contributing to the host country's economy.

Standard of Living

The degree of wealth, comfort, material goods, and necessities available to a person, group, or nation.