A Popular Haberdashery Could Take a Customer's Measurements in the Afternoon

question 110

Multiple Choice

A popular haberdashery could take a customer's measurements in the afternoon and produce a dandy suit ready for customer pickup by next morning. Their competitive priority was:

• A) variety.
• B) top quality.
• C) delivery speed.
• D) on-time delivery.

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Definitions:

Widgets

Widgets are a generic term for small devices or gadgets, or can refer to hypothetical products used in economics or financial examples.

Nonfinancial Performance Measure

A performance measure expressed in units rather than dollars.

Normal Standard

A benchmark or baseline condition expected to be present in a set of data, processes, or operations.

Direct Materials Price Variance

The difference between the actual cost of direct materials and the expected cost at standard prices.