One of the Ways That Just-In-Time (Or JIT) Influences Quality

question 72

True/False

One of the ways that just-in-time (or JIT) influences quality is that by reducing inventory, bad quality is exposed.

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Definitions:

Marginal Utility

The extra pleasure or benefit a consumer receives from purchasing an additional unit of a product or service.

Utility Schedule

A table or graph that shows the total utility or satisfaction that a consumer derives from consuming various quantities of a good or service.

Marginal Utility

The incremental utility or joy received when one more unit of a good or service is consumed.

Total Utility

The absolute gratification obtained through the intake of a certain quantity of products or services.