________ Refers to a General Rise in the Price Level

question 97

Multiple Choice

________ refers to a general rise in the price level of goods and services over time.

• A) Acceleration
• B) Recession
• C) Inflation
• D) Escalation

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Definitions:

Three Sigma

Three Sigma is a statistical measure that represents a control process for quality that aims to keep defects within a limit of three standard deviations from the mean in manufacturing processes.

ISO 9000

A family of standards related to quality management systems designed to help organizations ensure they meet customer and other stakeholder needs within statutory and regulatory requirements related to a product.

ISO 14001

An international standard that specifies requirements for an effective environmental management system (EMS).

TQM

Total Quality Management, a management approach focused on continuous quality improvement of products and services, involving all organization members.