Which of the Following Is True of Total Quality Management

question 48

Multiple Choice

Which of the following is true of total quality management?

• A) It makes quality principles part of an organization's strategic objectives.
• B) It is applied only to a few aspects of operations.
• C) It applies exclusively to managers.
• D) It applies to the inputs of a system.
• E) It is a one-time improvement process.

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Definitions:

Price Ceilings

Government-imposed limits on how high a price can be charged for a good or service, intended to protect consumers.

Agricultural Research

The systematic pursuit to increase understanding and improve techniques in farming, including crop production, livestock care, soil management, and pest control.

Farm Crop Insurance

A type of insurance that protects farmers against the loss of their crops due to natural disasters, such as floods, drought, and hail, or the loss of revenue due to declines in the prices of agricultural commodities.

Parity Concept

A principle in economics that describes a state where the purchasing power of two currencies is equal when a basket of identical goods is priced the same in both countries.