What We Produce During Our Working Time Is _________As Part

question 380

Multiple Choice

What we produce during our working time is _________as part of GDP and the enjoyment we gain from our leisure time is _________as part of GDP.

• A) not included; not included
• B) included; included
• C) included; not included
• D) not included; included

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Definitions:

Return on Investment (ROI)

An evaluation metric that assesses the effectiveness or financial gain of an investment by dividing the net earnings by the initial investment cost.

Residual Income

The net operating income that an investment center earns above the minimum required return on its operating assets.

Non-Value-Added Time

Time spent on production or administrative activities that do not contribute to the customer's value perception of the product or service.

ISO 9000 Standards

A set of international standards on quality management and quality assurance developed to help companies effectively document the quality system elements needed to maintain an efficient quality system.