Failure Mode Effect Analysis Is Best Described as _________

question 17

Multiple Choice

Failure Mode Effect Analysis is best described as _________.

• A)a quality scheme for building a failure free product or process.
• B)a descriptive tool for analyzing measurement data and identifying failures.
• C)a new approach to identifying potential failures.
• D)a methodology for identifying the potential negative outcomes related to the failure of a specific product or process.
• E)an approach to business making which minimizes failures through quality circles

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Definitions:

Corrective Tax

A tax designed to encourage or discourage certain behaviors or activities by including the cost of externalities, aimed at correcting market outcomes to reflect social costs or benefits.

Supply Curve

A graphical representation showing the relationship between the quantity of a good supplied and its price.

Pollution Rights

Tradable permits or licenses that allow the holder to emit a certain amount of pollution; used as an economic tool for controlling and reducing environmental degradation.

Pollution Permits

Allowances issued by governments that give companies the right to emit a certain amount of pollutants, intended to reduce overall pollution by market mechanisms.