Value Analysis Is

question 65

Multiple Choice

Value analysis is

• A) a systematic method of analyzing product failures.
• B) a visual method for analyzing the interrelationships among failures.
• C) a procedure for eliminating unnecessary features and functions.
• D) none of the above.

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Definitions:

Innovation

The process of developing new products, services, or methods, often leading to increased efficiency or value.

Economic Profit

The difference between a firm's total revenue and total costs, including both explicit and implicit costs, measuring the firm's performance beyond the basic business costs.

Investment

The action of designating capital with the intention of securing an income or a financial return.

Interest Rate

The amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets.