The Core of a QMS Is Focused on Creating the Goods

question 67

True/False

The core of a QMS is focused on creating the goods and services that customers want.

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Definitions:

Monopolist

An entity, often a single firm, that holds exclusive control over the supply of a particular good or service, setting prices without competition.

Marginal Cost

The increase in cost that arises from producing one additional unit of a good or service.

Competitive Industry

An industry in which numerous producers supply a homogeneous product or service, leading to competition over price and quality.

Marginal Cost

The extra expenditure needed to manufacture one more unit of a good or service.