The Process of ________ Takes Used Items Apart and Rebuilds

question 54

Multiple Choice

The process of ________ takes used items apart and rebuilds them as products to be used again to save costs.

• A)remanufacturing
• B)business process reengineering
• C)computer-integrated manufacturing
• D)lean production
• E)mass customization

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Definitions:

Marginal Utility

The additional utility derived from consuming one more unit of some good or service.

Consumer Surplus

The difference between the amount consumers are willing to pay for a good or service versus what they actually pay.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of the good that consumers are willing and able to purchase at various prices.

Consumer Surplus

The difference between the total amount that consumers are willing to pay for a good or service and the total amount they actually pay.