Kaizen Is the Japanese Word For

question 8

Multiple Choice

Kaizen is the Japanese word for:

• A) Respect-for-humans
• B) Employee involvement
• C) Continuous improvement
• D) Elimination of waste

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Definitions:

Marginal Cost

The additional expense incurred from manufacturing an extra unit of a product or service.

Wage Rate

The amount of compensation an employee receives per unit of time or per task performed, often expressed per hour or piece.

Monopsonist

A market situation in which there is only one buyer for a product or service.

Labor Supply Curves

Graphical representations that illustrate the relationship between the wage rate and the quantity of labor that workers are willing to supply.