Which of the following best describes the goal of mass customization in economics?

• A. To efficiently produce goods tailored to individual customer preferences
• B. To eliminate the need for consumer choice in the marketplace
• C. To minimize the variety of products offered to consumers
• D. To maximize production of standardized goods at the lowest possible cost

Answer: (A)

Verified step by step guidance

1. Understand the concept of mass customization: it refers to the process of producing goods and services to meet individual customer's needs with near mass production efficiency.
2. Recognize that the goal of mass customization is to combine the benefits of mass production (efficiency and low cost) with the ability to tailor products to individual preferences.
3. Evaluate each option by comparing it to the definition of mass customization: it is not about eliminating consumer choice or minimizing product variety, nor is it solely about maximizing standardized production.
4. Identify that the correct description aligns with producing goods efficiently while tailoring them to individual customer preferences.
5. Conclude that the best answer is the one that highlights efficient production of customized goods, reflecting the core goal of mass customization.