The Malcolm Baldrige Award Criteria Category of Business Results Does

question 92

Multiple Choice

The Malcolm Baldrige Award criteria category of business results does not include

• A) Percentage of defective items
• B) Progressive improvement over time
• C) Financial measures
• D) Marketing measures
• E) One-time only improvements

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Definitions:

Equilibrium Quantity

The quantity of goods or services supplied and demanded at the point where supply and demand curves intersect, resulting in market equilibrium.

Demand Schedules

A table that shows the quantity of a good that consumers are willing and able to purchase at various prices, holding all else constant.

Demand Curve

A graphical representation of the quantity of a good that consumers are willing and able to buy at different prices.

Price Change

A variation in the cost of a good or service over time.