Generally, If a Nation Produces More Consumer Goods Than Capital

question 211

Multiple Choice

Generally, if a nation produces more consumer goods than capital goods

• A) more of all goods may be produced in the future.
• B) less of all goods may be produced in the future.
• C) about the same amount of capital goods may be produced in the future as are being produced today.
• D) society will have to forego future consumption of capital goods.

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Definitions:

Lean Production

An organized approach to reducing waste in a production system while maintaining output levels.

Waste Reduction

The process of minimizing waste generation by using fewer resources and recycling or reusing materials whenever possible.

Inventory

Items or products that are held by a business for the purpose of sale or production, including raw materials, work in progress, and finished goods.

Material Handling

The coordination of material and product flow, safeguarding, storage, and oversight from production, through warehousing and distribution, to the point of use and final disposal.