These Organizations Were the First to Employ the Ideas of Quality

question 98

Multiple Choice

These organizations were the first to employ the ideas of quality experts such as W.Edwards Deming and Joseph M.Duran.

• A)Japanese companies
• B)Chinese companies
• C)American companies
• D)Canadian companies

---

Definitions:

Average Cost

The overall expense of manufacturing split by the quantity of units made.

Rate of Return

The increase or decrease in value of an investment throughout a determined period, shown as a percent of the investment’s initial cost.

Natural Monopolies

A market situation where a single supplier, due to unique resources, technology, or economies of scale, can provide a product or service at a lower cost than any potential competitor.

Regulatory Agency

A governmental body responsible for enforcing specific laws and regulations to protect public interest in areas such as health, safety, and the environment.