The Deming Cycle Is a Systematic Process That Can Be

question 53

True/False

The Deming cycle is a systematic process that can be effectively used to improve quality and solve problems in organizations.

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Definitions:

Tariff

A tax on imported goods.

Shifts

refers to movements or changes in economic indicators, demand/supply curves, or other economic paradigms, often due to external factors.

Economies of Scale

The cost advantages that enterprises obtain due to scale of operation, with cost per unit of output generally decreasing with increasing scale as fixed costs are spread out over more units of output.

Selling Below Cost

The practice of offering goods or services for sale at a price that is less than the total cost to produce and sell them.