Which of the Following Items Is Not a Tool That

question 114

Multiple Choice

Which of the following items is not a tool that can be used by management to take corrective action in a process deemed out of control?

• A) Cause-and-effect diagram.
• B) Statistical quality control (SQC) chart.
• C) Fish-bone diagram.
• D) Pareto diagram.
• E) Histogram.

---

Definitions:

Market Share

The segment of a market dominated by a specific company or product.

Perfect Competition

A market structure characterized by a large number of small firms, a homogeneous product, free entry and exit, and perfect information, leading to price takers.

Price Taker

A market participant that accepts the prevailing prices in the market, unable to influence prices through their own actions.

Perfectly Competitive

A market structure characterized by a large number of buyers and sellers, homogeneous products, free entry and exit, and perfect information, leading to zero economic profit in the long run.