According to the Textbook, Total Quality Management Is a Philosophy

question 119

True/False

According to the textbook, total quality management is a philosophy of management driven by continual improvement and responding to customer needs and expectations.

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Definitions:

Fixed Cost

Costs that do not vary with the volume of production or sales, such as rent, salaries, and insurance.

Average Cost

The total cost divided by the quantity produced, calculating the cost on a per unit basis.

Total Output

The total quantity of goods or services produced by a firm or economy.

Fixed Costs

Expenses that do not change with the level of goods or services produced by a business.