Six Sigma Encompasses the Activities Necessary to Get Inputs and Components

question 16

True/False

Six Sigma encompasses the activities necessary to get inputs and components to a production facility, through the production process, and out through a distribution system to the end-user.

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Definitions:

Monopoly Profits

Monopoly profits refer to the extra earnings a firm accrues by being the sole supplier of a good or service with no close substitutes, allowing it to dictate market prices.

Industry

A group of manufacturers or businesses that produce a particular kind of goods or services.

Barriers to Entry

Factors that prevent or hinder companies from entering a particular market or industry.

Gas Station

A commercial outlet that offers gasoline and motor oil for automobiles.