JIT Inventory Systems Strive To

question 69

Multiple Choice

JIT inventory systems strive to:

• A) Cultivate long-term relationships with a select group of reliable suppliers.
• B) Keep inventories at minimal levels.
• C) Improve overall product quality.
• D) All of the above.

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Definitions:

Disposable Income

Net resources for spending and saving available to households after subtracting income taxes.

MPC

MPC, or Marginal Propensity to Consume, is the proportion of additional income that an individual spends on consumption.

APC

Average Propensity to Consume, the fraction of income that households spend on consumption as opposed to saving.

MPS

An acronym that can stand for multiple financial and economic terms, such as Marginal Propensity to Save, which indicates the fraction of additional income that a household saves.