Which of the Following Items Is Not a Management Concept

question 164

Multiple Choice

Which of the following items is not a management concept that was created to improve companies' performances?

• A) Customer orientation.
• B) Total quality management.
• C) Continuous improvement.
• D) GAAP constraints and guidelines.
• E) Just-in-time manufacturing.

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Definitions:

Marginal Utility

The incremental pleasure or value received from consuming one more unit of a good or service.

Marginal Utility Schedules

Tables or graphs that show the relationship between the quantity of a good consumed and the utility (satisfaction) that is gained from each additional unit.

Total Utility

The complete satisfaction or advantage gained from consuming a specified overall amount of a product or service.

Utility-Maximizing

A principle of economics that assumes consumers aim to achieve the highest level of satisfaction possible from their available resources.