Examlex
Which of the following occurs when prices and the cost of living rise while money loses its purchasing power?
TQM
Total Quality Management, a continuous effort by management to improve the quality of products and services through feedback and refinements.
Frederick Taylor
A U.S. mechanical engineer renowned for his efforts to enhance industrial productivity, famously recognized as the progenitor of scientific management.
Productivity
measures how efficiently goods and services are produced by comparing the amount of outputs generated to the inputs used.
Steel Mill
An industrial plant for the manufacture of steel, involving processes like smelting and refining of iron and steel.
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