When Laptops Were First Produced, the Price Was Very High

question 48

Multiple Choice

When laptops were first produced, the price was very high. As time passed, the price of personal laptops fell because

• A) the initial price was too high and nobody bought laptops.
• B) the demand for laptops decreased.
• C) there were technological advances in the production of laptops.
• D) people's incomes increased and laptops are an inferior good.
• E) None of the above answers is correct.

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Definitions:

Scrap Rates

The percentage of materials or products that are discarded because they are not up to the required standards or specifications.

Continuous Improvement

A sustained endeavor to refine products, services, or processes through gradual and revolutionary enhancements.

Performance Management

Is a continuous process of identifying, measuring, and developing the performance of individuals and teams, through genuine feedback, mentoring and training, and ensuring alignment of every single job in the organisation with the strategic goals of the organisation.

High Standards

The principles or criteria that must be met to achieve excellence or superior quality in a task, product, or behavior.