Which of the Following Acronyms Is NOT Paired with Its

question 108

Multiple Choice

Which of the following acronyms is NOT paired with its correct "translation?"​

• A)​TQM - Total Quality Management
• B)​JIT - Just-in-Time
• C)​MRP - Manufacturing Responsiveness and Planning
• D)​ERP - Enterprise Resource Planning

---

Definitions:

Inferior Good

A type of good for which demand decreases as the income of the consumer increases.

Inferior Good

A type of good whose demand decreases when consumer incomes increase.

Normal Good

An item that sees a rise in desire when the income of buyers increases, and experiences a decline in demand when the income of buyers drops.

Consumer Expectations

Anticipations of future prices, product quality, or available services that influence consumer decisions on spending and saving.