Which of the Following Is Not a Step in the Six

question 36

Multiple Choice

Which of the following is not a step in the Six Sigma philosophy?

• A)define quality
• B)measure it
• C)improve it
• D)revise it

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Definitions:

Tax Revenue

The funds that governments garner from taxing activities.

Deadweight Loss

An economic inefficiency that occurs when the market outcome does not maximize total benefits, often due to distortions such as taxes, subsidies, or monopolies.

Tax

A mandatory financial charge imposed by a governmental organization in order to fund various public expenditures.

Gains from Trade

Gains from trade refer to the increase in consumer and producer surplus that occurs when countries specialize in the production of goods and services in which they have a comparative advantage and then trade with others.