Identity the Following by Their Type of Quality Cost

question 95

Multiple Choice

Identity the following by their type of quality cost.
-Warranty work

• A)Preventive costs
• B)Appraisal costs
• C)Internal failure costs
• D)External failure costs

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Definitions:

Support Price

A price set by the government or a regulatory body at a certain level to maintain the income of producers and encourage production.

Excess Supplies

A situation where the quantity of a product offered is greater than the quantity demanded at the current price.

Producer Surplus

The difference between the amount producers are willing to supply goods for and the actual amount received from selling those goods.

Government Payments

Financial transfers made by the government to individuals, businesses, or other governments, often as part of welfare, subsidy programs, or for procurement of services and goods.