A Team Appraisal Approach Is Well Suited for a Company

question 106

True/False

A team appraisal approach is well suited for a company advocating a total-quality management philosophy.

---

Definitions:

Say's Law

An economic principle that suggests supply creates its own demand, meaning production of goods and services generates the purchasing power needed to buy those goods and services.

Supply

The total amount of a product or service that is available for purchase at any given price in a given market.

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices during a certain period.

Classical Economists

Economists who emphasize the role of free markets and the importance of supply-side factors for economic growth and stability.