A System That Calls for Subassemblies and Components to Be

question 25

Multiple Choice

A system that calls for subassemblies and components to be manufactured in very small lots and delivered to the next stage of the production process as they are needed is known as

• A) mass production.
• B) offshoring.
• C) crowdsourcing.
• D) continuous process.
• E) just-in-time.

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Definitions:

Vertical Integration

Organizational form in which a firm contains several divisions, with some producing parts and components that others use to produce finished products.

Monopoly Seller

A business entity that is the sole provider of a particular good or service, giving it significant control over the market price.

Marginal Cost Curve

A graphical representation showing how the cost of producing one additional unit of a good or service varies with the quantity produced.

Retail Coffee Price

The price at which coffee is sold to consumers in stores, cafes, or online platforms, reflecting the end cost including production, transportation, and markup.