Which One of the Following Conditions Does Not Exist If

question 45

Multiple Choice

Which one of the following conditions does not exist if absolute purchasing power parity exists?

• A)Goods are identical.
• B)Trade barriers are nonexistent.
• C)Transaction costs are equal to zero.
• D)Goods have equal economic values.
• E)Goods differ based on geographic location.

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Definitions:

TQM

Total Quality Management, a systematic approach to management that seeks to improve quality and performance which will meet or exceed customer expectations.

Zero Defects

A management philosophy aiming for the reduction of defects through continuous improvement and aiming at achieving perfect products or processes.

Inspecting Everything

The practice of thoroughly examining and reviewing all components or aspects of a project, process, or system.

Crisis Management

The method an organization employs to handle a sudden and unforeseen incident that poses a risk to the organization or its stakeholders.