Lean Is So Named Because It Purports to Use Much

question 29

True/False

Lean is so named because it purports to use much less of certain resources than is used by normal mass-production systems to produce comparable output.

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Definitions:

Federal Reserve

The Federal Reserve is the central banking system of the United States, responsible for monetary policy, regulating banks, maintaining financial stability, and providing financial services.

Double Coincidence of Wants

A situation in barter economies where two parties each hold an item the other wants, making it possible for them to exchange these items directly.

100-percent-reserve Banking

A banking system in which banks are required to keep 100% of their deposits available as reserves, thus eliminating the possibility of bank runs.

Money Supply

The collective sum of money assets in an economy at a certain timeframe.