A Kaizen Burst Is a Symbol on a Value Stream

question 24

True/False

A kaizen burst is a symbol on a value stream map.

Distinguish between different legal documents pertaining to end-of-life decisions (DNR, living wills, power of attorney).

Interpret the legal aspects and considerations of preparing a will and the consequences of dying without a will.

Appreciate the ethical, legal, and social considerations surrounding end-of-life care, including advanced directives and living wills.

Identify the process and criteria for the disposition of a person's body and estate after death.

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Definitions:

First-Degree Price Discrimination

Practice of charging each customer her reservation price.

Marginal Revenue

The increase in revenue resulting from the sale of one additional unit of a product or service.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually do pay.

Intertemporal Price Discrimination

A pricing strategy where a seller changes prices over time for the same product or service to maximize profits by taking advantage of differences in consumers' willingness to pay at different times.