Which component of a lathe holds multiple cutting tools and allows for quick changes?

The component of a lathe that holds multiple cutting tools and allows for quick changes is a turret. A turret is a specialized tool holder that is designed to facilitate the rapid switching of different cutting tools without needing to manually change tools each time a different operation is required. This feature enhances efficiency and productivity, especially in production environments where various machining operations are performed sequentially on a workpiece.

In contrast, the bed of the lathe serves as the foundational support framework that maintains the alignment of the machine's components and provides stability. The tailstock is typically used to support the opposite end of a workpiece, especially in turning operations where additional stability is needed. The carriage moves the cutting tool with respect to the workpiece, allowing for precision in machining operations but does not hold multiple tools itself. Thus, the turret stands out as the correct answer due to its unique capability to enable quick tool changes.