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Flexible Production Systems Typically Involve Using Information Technology to Share

question 8

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Flexible production systems typically involve using information technology to share the details of customer orders,programmable equipment to fulfill orders,and skilled people to carry out whatever tasks are necessary to fill an order.They are less complicated and require less cooperation than do mass production systems.

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Definitions:

Tariffs

Taxes imposed by a government on imported goods to protect domestic industries and generate revenue.

Allocation

The process of distributing resources or tasks among people or groups based on a specific criteria.

Efficient Industries

Industries that achieve maximum productivity with minimum wasted effort or expense.

Comparative Advantage

The ability of an individual, company, or country to produce a good or service at a lower opportunity cost than competitors, leading to more efficient global production and trade.

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