Answer:
The answer is "b" - Customization
Explanation:
<u>Product Customization</u> is a process of delivering customized goods and services to the customers as per their needs and desire. Customers can either approach a merchant to make certain customizations in a product or personalize the products themselves, exactly the way they want.
It is also known as product personalisation. This is evident in the given situation, as Lilly Ann can customize the cage according to her own preferences.
<u>Standardization</u>
- Product standardization refers to the process of maintaining uniformity and consistency among the different iterations of a particular good or service that are available in different markets.
- It is a process of marketing a good or service without making any changes to it
- Standardization would be correct, if they brand offers the cage without any changes.
<u>Mass customization:</u>
- Mass customization is a marketing and manufacturing technique which combines the flexibility and personalization of custom-made products with the low unit costs associated with mass production.
- Other names for mass customization include made-to-order or built-to-order.
<u>Mass production:</u>
- Mass production is the manufacturing of large quantities of standardized products, often using assembly lines or automation technology.
- Mass production facilitates the efficient production of a large number of similar products.
<u>Modular design:</u>
- Modular design is a design approach that creates things out of independent parts with standard interfaces.
- This allows designs to be customized, upgraded, repaired and for parts to be reused.
Answer:
this is the federal banking system of USA
Answer:
Year 1, Year 2 purchasing power = 8 , 9 (respectively). As price level fall, value of money<u> Increases </u>
Explanation:
Year one purchasing power = Money ($) / Price per basket = 72 / 9 = 8
Year two purchasing power = Money ($) / Price per basket = 72 / 8 = 9
This implies that, as price level falls (from 9 to 8 here) ,the value of money ie purchasing power increases (from 8 to 9)
Answer:
C. high capital intensity and high resource flexibility
Explanation:
Economies of scope describe situations in which the long-run average and marginal cost of a company, organization, or economy decreases, due to the production of some complementary goods and services. An economy of scope means that the production of one good reduces the cost of producing another related good.
