Value Analysis Examines the Function of Purchased Parts and Materials

question 81

True/False

Value analysis examines the function of purchased parts and materials in an effort to reduce costs.

---

Definitions:

Psychological Contract

An unwritten agreement that sets out mutual expectations, obligations, and understanding between employer and employee beyond the formal contract of employment.

Contributions

The act of giving or providing resources, effort, or information for a common purpose or benefit.

Inducements

are incentives or rewards offered to persuade someone to take a certain action or make a specific decision.

Fundamental Attribution Error

The tendency to overemphasize personal characteristics and underestimate situational factors when explaining others' behaviors.