Macroeconomics
Macroeconomics
5th Edition
ISBN: 9781319098759
Author: Paul Krugman, Robin Wells
Publisher: Worth Publishers
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Chapter 2, Problem 2QFT
To determine

how lean manufacturing effect the economy

Concept Introduction:

Lean Manufacturing: The method of manufacturing in which the factors of production are demanded according to the immediate need of the production unit. The main objective of such method is to reduce the non-value adding activities in production. This helps in the reduction of operation cost and increase in profit. It helps in optimal and efficient use of inputs as well as efficient allocation.

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