Which One of the Following Statements Is False

question 60

Multiple Choice

Which one of the following statements is false?

• A)Kaizen is the process of specifying design specifications for goods and services.
• B)A cause-and-effect diagram is also called a fishbone diagram.
• C)Scrap and rework costs are part of internal failure quality costs.
• D)The Deming Cycle is named after a famous quality guru and consists of four steps - Plan, Do, Study, Act (PDSA).

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Definitions:

Monopolist

A single supplier in a market who has exclusive control over a particular good or service, potentially leading to higher prices and lower output.

Marginal Cost

The cost of producing one more unit of a good or service.

Marginal Cost

The increased cost resulting from the production of an extra unit of a good or service.

Fourth Unit

A reference to a specific item in a series, often used in economic theories or models to discuss marginal utility or cost of an additional unit.