Efficiency Means That

question 48

Multiple Choice

Efficiency means that

• A)society is conserving resources in order to save them for the future.
• B)society's goods and services are distributed equally among society's members.
• C)society's goods and services are distributed fairly,though not necessarily equally,among society's members.
• D)society is getting the maximum benefits from its scarce resources.

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Definitions:

JIT Partnerships

Collaborations between suppliers and manufacturers to implement Just-In-Time inventory strategies, minimizing stock levels and reducing waste.

Engineering Changes

Adjustments or modifications made to the design or specifications of a product or system, often to improve functionality or performance.

Lot Sizes

The quantity of items that are processed, produced, or ordered as a batch, impacting inventory levels and manufacturing efficiency.

Throughput

Throughput is the rate at which a system generates its products or services, a key performance measure in manufacturing, computing, and communication systems.