Defective Material from Suppliers and Lost Production Time Are Examples

question 28

Multiple Choice

Defective material from suppliers and lost production time are examples of:

• A)internal failure costs.
• B)external failure costs.
• C)appraisal costs.
• D)prevention costs.
• E)replacement costs.

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Definitions:

Representation Election

A voting process where workers decide whether they want to be represented by a union in dealing with their employer.

Decertification Election

A formal vote by workers in a bargaining unit to determine whether they wish to remove the union as their representative.

Collective Bargaining Agreement

An agreement resulting from negotiations between an employer and a group of employees to determine the conditions of employment.

Rational Choice Model

An economic principle that assumes individuals always make prudent and logical decisions that provide them with the highest personal utility.