Which of the Following Is FALSE Regarding Repetitive Processes

question 249

Multiple Choice

Which of the following is FALSE regarding repetitive processes?

• A) They use modules.
• B) They allow easy switching from one product to the other.
• C) They are the classic assembly lines.
• D) They have more structure and less flexibility than a job shop layout.
• E) They include the assembly of basically all automobiles.

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Definitions:

Equilibrium Price

The price at which the quantity of goods supplied equals the quantity demanded, hence, the market is in balance.

Market Price

The ongoing rate at which an asset or service is being offered for buying or selling.

Shortage

An instance where the desire for a good or service outstrips its availability at a given price.

Price Floor

A government or regulatory imposed minimum price set above the equilibrium price, preventing market prices from falling below a certain level.