A Simulation Model Used in Situations Where the State of the System

question 15

Multiple Choice

A simulation model used in situations where the state of the system at one point in time does not affect the state of the system at future points in time is called a

• A) dynamic simulation model.
• B) static simulation model.
• C) steady-state simulation model.
• D) discrete-event simulation model.

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Definitions:

Operational Flexibility

The ability of a business or organization to adapt to changes in conditions, demand, or environment while maintaining efficiency and effectiveness.

Production Batches

Groups or lots of goods produced together during a manufacturing process, often under the same conditions over a specific time period.

Economic Force

Factors or agents that cause significant changes or impacts on the economy, influencing markets, employment, and production.

Global Trade

The exchange of goods and services across international borders, influenced by global economic policies and agreements.