An Effective Just-In-Time System Will Include

question 11

Multiple Choice

An effective just-in-time system will include:

• A)Specialized employees.
• B)An efficient plant layout.
• C)Sizable inventories of raw materials.
• D)Many suppliers.

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Definitions:

Coffee Shops

Retail establishments that primarily sell coffee, along with other beverages and light snacks, often serving as social hubs in communities.

Normal Good

A type of good for which demand increases when consumer income increases, and decreases when consumer income decreases, assuming all other factors remain constant.

Recession

A significant decline in economic activity spread across the economy, lasting more than a few months, typically visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.

Quantity

The amount or number of a material or immaterial good considered as a unit or in total.