Answer:
production of individually customized products
Explanation:
Mass customization can be described as when a company produces and delivers market goods and services that are suited to meet the needs of individual customers
It combines the benefit of low cost associated with mass production with the customization of goods.
An example of a product that is mass customized is the mobile phone. A mobile phone is mass produced but due to its software, users are able to modify or customize their phone to suit their needs
Types of Mass customization
- Collaborative customization: In this type of Mass customization, customers and the company work together to create a good or service that meets the unique needs of the consumer.
- Adaptive customization: the good or service created can be further customized by the consumer to suit their needs.
- Transparent customization: unique products are made for each consumer .
- Cosmetic customization: different types of standardized products are made for various groups of customers.
Advantages of Mass customization
- Customer satisfaction increases
- Goods are produced at lower costs
Disadvantages of Mass customization
- It would be difficult for the company to build up stock ahead of time due to the unique needs of the customers
- there would be an increased wait time from the time the order is made till when it is delivered
Answer: $3865.8
Explanation:
The formula to find the simple interest is given by :-
, where P is the initial amount deposited , r is the rate of interest in decimal and t is the time period in years.
Given : P= $1700 ; r= 9.8%=0.098 ; t=13 years
Then , the simple interest earned in 13 years will be :-
Now, the combined amount = P+I =$1700+$2165.8= $3865.8
Hence, the credit union would owe Heather $3865.8 in 13 years.
1. Organizations have the knowledge and resources to do good in the community, so they are responsible for helping others.
Explanation:
<u>Companies that exist for the sake of making profits are prone to do it at the expense of other social and economic structures</u>. Thus, social responsibility is an important part of running a big firm with massive resources that can be put to this use.
Companies have think tanks, monitory and administrative advantages to do Social work that many organisations simply can't and if they do it,<u> it produces greater trust among the public and clientele too, along with a loyal worker base too.</u>
Answer:
C. the different combinations of inputs that can be used to produce a fixed rate of output
Explanation:
- Given a production function, F(K;L) where K is the capital and L is labour, both of them inputs, an isoquant can be obtained by fixing the value of F(K;L) equal to some constant "m" .
- The level of production "m" can be obtained by combining different levels of inputs.
- Then, the isoquant at level of production "m" will contain the different combinations of K and L that produce m.
I think your answer should be C. Using flash cards. When you use flash cards, you are testing yourself to see how many terms you know, or how much you know. :)
