The Last Step in Deming's "Chain Reaction" Is To

question 74

Multiple Choice

The last step in Deming's "chain reaction" is to:

• A)improve productivity.
• B)improve quality.
• C)reduce costs.
• D)provide jobs.

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Definitions:

Utility Schedule

A table showing the different levels of satisfaction (utility) a consumer gets from consuming varying quantities of a good or service.

Utility Schedule

A representation that shows various quantities of a commodity or service and the utility or satisfaction derived from each.

Marginal Utility

The augmented satisfaction or value derived from the consumption of one extra unit of a product or service.

Total Utility

Measures the total satisfaction or benefit that a person derives from consuming a certain quantity of a good or service.