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Lean System is an organized method for waste minimization without sacrificing productivity within a manufacturing system. Lean implementation emphasizes the importance of optimizing work flow through strategic operational procedures while minimizing waste and being adaptable. The characteristics of lean manufacturing are: · Zero waiting time · Zero inventory · Pull processing · Continuous flow of production and · Continuous finding ways of reducing process time Push system is not a principle in Lean manufacturing as push system means ‘make to stcok’ in which production is not based on actual demand which may lead to high inventory, higher overheads and over production.
If a tax is placed on the product in this market, tax revenue paid by the buyers is the area
During the planning period, highest growth rate was achieved during
Accelerator theory of investment is the ratio of:
The Phillips curve shows the trade-off between ----- and -----?
When the expected future marginal product of capital increases, then the IS curve
Which of the following is correct regarding long run cost
'Distributed Profits' is also known as:
If quantities of all commodities change in the same proportion then
If an individual deposits a sum of money in a bank, then the amount of additional credit that the banking system can be create is
When C = 200 + 0.75(Y − T), I = 200 − 25r, G = 100, T = 100. Find IS curve function.
