Examlex
The Baldrige National Quality Award was started under the direction of the National Institute of Standards and Technology.
Adverse Selection
A situation in insurance and other markets where buyers and sellers have different information, leading those more likely to produce negative outcomes to participate more actively.
Quality Assurance
The process of ensuring that products and services meet certain quality standards or requirements before they are offered to customers.
Used Cars
Pre-owned vehicles that have had one or more retail owners before being put up for sale again.
Moral Hazard
The situation in which one party engages in risky behavior knowing that it is protected against the risk because another party will bear the cost.
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