Just in time production (JIT) Just in time is a ‘pull’ system of production‚ so actual orders provide a signal for when a product should be manufactured. Demand-pull enables a firm to produce only what is required‚ in the correct quantity and at the correct time. `Just-in-time ’ is a management philosophy and not a technique. It originally referred to the production of goods to meet customer demand exactly‚ in time‚ quality and quantity‚ whether the `customer ’ is the final purchaser of the
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of sleep times 6‚ 7‚ 8 hours on reaction time (seconds) in humans?” concluded that the group sleeping six hours had an average reaction time of 0.54 seconds‚ the group sleeping seven hours had an average reaction time of 0.60 seconds‚ and the group sleeping eight hours had an average reaction time of 0.45 seconds. The hypothesis was somewhat supported with the group sleeping eight hours having the highest reaction time‚ however‚ the group sleeping seven hours hours had a slower reaction time than
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cost is the profits that it could have earned by operating the plant. BMW incurs direct and indirect costs from shutting down the plant. However‚ BMW also receives benefits from shutting down the plant: the profits from selling the new sports-activity coupe. If the value of these profits to BMW exceeds the costs of shutting down the plant‚ then BMW will shut down the plant. 2. No. This chapter discusses the benefits to a country of specializing in the production of those products for which it has
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"Explain how production possibilities curves can be used to demonstrate the problem of unemployment‚ the effects of technological change and the benefits of economic growth."A production possibility frontier (also known as production possibility curve) represents all the possible combinations of the production of two types of goods and services that the economy can produce at any given time through graphical means. It is used to clearly demonstrate the problem of unemployment‚ the effects of technological
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Miroeconomics - Final Exam Instructions Please put your name and the course information on the scantron (ECON 2302 Professor J. Bikis) Please put your DBU ID number on the scantron in the area market "ID NUMBER" Please write your webadvisonr id on the back of the scantron in the area marked "WEBADVISOR ID". (This ID is the same ID that you use to get into your DBU email or into BlackBoard) Please select the best answer for each question given and fill in the respective answer option on the
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Explain how production possibility curves can be used to demonstrate the problem of unemployment‚ effects of technological change and the benefits of economic growth. Human wants are unlimited and resources are scarce. In order to satisfy these wants‚ all societies face the problem of allocating these scarce resources to producing the wanted products. These decisions greatly affect the economy and will contribute to the movements of growth. A graph that visually represents the results of the decisions
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market will expand greatly‚ and they look forward to sharing their experience and knowledge with others who enjoy nature and kayaking. Original Kayak Adventures advertises in regional magazines and maintains a Web site‚ which Edie designed. Customers say that the site is attractive and informative‚ but the Caputos are not sure of its effectiveness in attracting new business. At this time‚ no other kayak rentals firms operate within 20 miles of OKA’s location. So far‚ the Caputos’ plan is working
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ur a lil puts putssssssssssssssssss "Tha Block is Hot" [Lil’ Wayne] Wha wha‚ wha wha‚ wha wha‚ wha wha‚ what Straight off the black gold‚ nuts in my hand‚ trustin no man Got my glock cocked‚ runnin this thing‚ ya understand We be steamin‚ blazin‚ nines pumped in caves and Hollygrove 17th‚ the hood where I was raised in Niggaz bustin heads and‚ runnin duckin Feds and rocks under they tongues and‚ ki’s under they beds and do it for the real niggaz‚ twenty-four seven hustlers
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Compare how time is presented in ’Hour’ and one other Poem Both poems ’Hour’ and ’To His Coy Mistress’ present the power time has between two people. ’Hour’ is a poem about two lovers who have one hour together and explores the ideas of material possesions and a modern reinterpretation of love. Where as ’To His Coy Mistress’ is a poem where the man is trying to convince the woman to sleep with him and exploring the idea of living and enjoying your life whilst your young. Both of the poems use
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question 2. A good or service that is forgone by choosing one alternative over another is called a (an): a. Explicit cost b. Opportunity cost c. Accounting cost d. Implicit cost 3. In the context of the production possibilities curve‚ opportunity cost is measured in: a. Changing in technology b. Ringgit paid for the goods c. The value of the resources used d. The quantity of other goods given up 4. If an economy is producing at full employment‚ it
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