Menu Costs

question 6

Multiple Choice

Menu costs

• A)increase during recession.
• B)decrease during recession.
• C)are the costs to firms of changing prices and communicating them to customers.
• D)are sunk costs and therefore should be disregarded.

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Definitions:

Japanese Concept

Refers to strategic philosophies or principles originating from Japan, often applied to business, management, and production, like Kaizen (continuous improvement).

Aesthetic Quality

Aspects of a product, environment, or design that are pleasing to the senses, often related to beauty, artistry, and emotional response.

Quality Management System

A quality management system (QMS) is a structured set of processes and procedures aimed at ensuring that products, services, or operations meet specified quality standards and customer expectations.

Implementing

The process of putting into effect or action a plan, decision, or method.