If a Company Wants to Decrease Its Total Quality Cost

question 25

Multiple Choice

If a company wants to decrease its total quality cost, it would usually be best to spend more money on:

• A)prevention.
• B)internal and external failure.
• C)prevention and internal failure.
• D)appraisal and external failure.
• E)appraisal and internal failure.

Define and distinguish between employed, unemployed, discouraged workers, and not in the labor force.

Identify factors that influence changes in the unemployment rate.

Describe different types of unemployment (frictional, structural, cyclical, seasonal).

Understand the economic and social costs of unemployment.

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Definitions:

Competition

The rivalry among businesses to attract customers and achieve a higher market share.

High Quality

A standard of excellence or superiority in condition or performance, often measured against other similar items or services in terms of durability, reliability, and satisfaction.

Labor Costs

The total expenditure borne by employers for paying their employees, which includes wages, benefits, and taxes associated with employment.

Employee Involvement

Practices and policies that encourage employees to contribute ideas and participate in decision-making within an organization.