For items manufactured in-house, one component of the planned lead time is waiting time
Indicate whether the statement is true or false
TRUE
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Which statement is true of an apprenticeship?
A. An apprenticeship cannot be sponsored by groups outside the firm. B. An apprentice can earn an income while learning a trade. C. An apprenticeship does not include any classroom training methods. D. An apprenticeship does not offer hands-on learning and practice. E. An apprenticeship is mostly used for teaching management and interpersonal skills.
Which of the following is a basic idea of the marketing concept?
A. A firm should "give customers what it produces best." B. A firm is obliged to have a positive effect on society. C. Survival and success require a profit. D. An organization should build "fences" around its own departments. E. A production orientation must guide the whole system.
In choosing a form of business organization for a new enterprise, important factors include the liability of the owner.
Answer the following statement true (T) or false (F)
High level of service often results in ______.
A. higher capacity-related costs and lower waiting time costs B. lower capacity-related costs and higher waiting time costs C. lower capacity-related costs and lower waiting time costs D. higher capacity-related costs and higher waiting time costs