A Non-Value-Added Cost Is a Cost That, If Eliminated, Would

question 118

True/False

A non-value-added cost is a cost that, if eliminated, would reduce the actual or perceived value or utility (usefulness) customers experience from using the product or service.

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Definitions:

Intense Competition

A market situation characterized by a high level of rivalry among businesses, often leading to innovations and lower prices for consumers.

Entry-Restricting Legal Barriers

Regulations and legal requirements that limit the ability of new competitors to enter an industry.

Monopoly Cartel

A collaboration of independent businesses formed to control production, sales, and prices of goods within a market, behaving similarly to a single monopoly.

Funeral Home Industry

A sector of the economy that provides services related to the preparation, management, and coordination of funerals.