Joseph Juran Defined Quality as ________, Which Meant That a Product

question 129

Multiple Choice

Joseph Juran defined quality as ________, which meant that a product or service should satisfy a customer's real needs.

• A)value orientation
• B)fitness for use
• C)need fulfillment
• D)functional capacity
• E)feature superiority

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Definitions:

Economic Profit

The split between total revenue generation and total cost accrual, encompassing both declared and understood costs.

Long-Run Adjustments

Adjustments that firms make over a period where all inputs can be varied, and there are no fixed factors of production.

Industry Supply

The total output of a particular good or service that all producers in the market are willing and able to sell at a given price level, over a specific time period.

Short-Run Market Supply

The total quantity of a good or service that producers are willing and able to sell at various prices over a short period, where some production factors are fixed.