One of the Most Crucial Elements of the ____________ System

question 26

Multiple Choice

One of the most crucial elements of the ____________ system is small lot sizes.

• A) just-in-time
• B) management ordering and buying
• C) just-on-target
• D) purchasing
• E) computer ordering and buying

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Definitions:

Consumers

Consumers are individuals or groups that use goods and services generated within the economy to satisfy their personal needs and desires.

Jointly Owned

Pertains to a property or asset that is owned by two or more parties, with rights and responsibilities shared among them.

Mutual Benefit

A situation or transaction that is advantageous to all parties involved.

Cooperative

Association of businesses or people jointly owned and operated by members for mutual benefit.