An Integral Part of TQM (Total Quality Management)is _____,Which Can

question 56

Multiple Choice

An integral part of TQM (total quality management) is _____,which can be characterized as the commitment to making constant improvements in design,production,and delivery.

• A)incremental capacity
• B)continuous improvement
• C)marketing-mix improvement
• D)quality assurance

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Definitions:

Marginal Analysis

The examination of the benefits and costs of choosing one more or one less unit of a good or service.

Implicit Costs

The opportunity costs of using resources owned by the firm for its own production instead of selling or renting them to others.

Interest Rate

The price, calculated as a percentage of the amount borrowed, that a lender charges a borrower for the use of their savings for one year.

Salary

A fixed regular payment, typically paid on a monthly or biweekly basis but often expressed as an annual sum, made by an employer to an employee.