Which of the Following Statements Is True About ISO 9000

question 177

Multiple Choice

Which of the following statements is true about ISO 9000?

• A) ISO 9000 is a standard of quality measurement.
• B) ISO 9000 has not been adopted in Europe.
• C) ISO 9000 certifies the quality of the product.
• D) ISO 9000 certifies the firm's commitment to continuous improvement.

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Definitions:

Total Revenue

The total amount of money received by a company for goods sold or services provided during a certain period.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price, over a specified period of time.

Midpoint Formula

A method used to calculate the elasticity of demand or supply, assessing the percentage change in quantity demanded or supplied relative to the percentage change in price.

Price Elasticity

A measure of how much the quantity demanded of a good or service changes in response to a change in its price.