Examlex
A key element of the statistical quality control (SQC) process is the reliance on quality control experts to inspect at the end of the production line to make sure that no defective products are shipped to final customers.
Free Enterprise System
An economic system where private businesses operate in competition, largely free of state control, with limited government intervention.
Market System
An economic system in which decisions regarding investment, production, and distribution are guided by the price signals created by the forces of supply and demand.
Property Rights
Legal rights to possess, use, and dispose of assets including real property (land and buildings) and intellectual property.
Public Policy
Government actions, laws, and regulations that reflect the attitudes and rules for the public implemented by different levels of government.
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