Because Internationally Recognized Certifications Like ISO 9000 Are Becoming So

question 16

True/False

Because internationally recognized certifications like ISO 9000 are becoming so common among suppliers,it is becoming more important that purchasing firms develop internal certification programs that are geared toward the specific needs of the purchasing organization.

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Definitions:

Scarcity

A fundamental economic problem of having seemingly unlimited human wants in a world of limited resources, leading to the necessity of making choices.

Microeconomics

The branch of economics that studies how individuals, households, and firms make decisions and allocate resources.

Alternatives

Options or choices available in any given situation.

Production

The process of creating goods and services through the combination of labor, capital, land, and technology.