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Which of the Following Is True of the ISO 9000

question 53

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Which of the following is true of the ISO 9000 certification?


Definitions:

Rival

In economic terms, a good or service that cannot be enjoyed or consumed by more than one person at the same time.

Artificially Scarce Good

A product or service whose supply is deliberately limited, often to maintain high prices or for other non-market reasons.

Excludable

Excludable describes a good or service that one can prevent others from using unless they pay for it, characterized by the ability to exclude non-payers.

Nonrival

A characteristic of a good whereby one person's consumption does not reduce availability to others, often associated with public goods.

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