Activity-Based Management Focuses on Making Decisions That Improve Customers' Satisfaction

question 58

True/False

Activity-based management focuses on making decisions that improve customers' satisfaction while also increasing profits.

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Definitions:

High Quality

A description of goods or services that meet or exceed consumer expectations in terms of performance, durability, and reliability.

Optimal Combination

The most favorable mix of goods, services, or resources to achieve the highest level of satisfaction or output with given resources and constraints.

Efficiency

The property of a resource allocation of maximizing the total surplus received by all members of society.

Equality

The property of distributing economic prosperity uniformly among the members of society.