A Major Drawback of Focusing on Continuous Improvements Is That

question 91

Multiple Choice

A major drawback of focusing on continuous improvements is that it:

• A) may prevent employers from making needed radical changes.
• B) works well for Japanese companies but not for U.S. companies.
• C) makes it difficult to discharge low-performing employees.
• D) usually requires the layoff of employees.
• E) requires the use of complicated statistical techniques.

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Definitions:

Willing to Pay

The maximum price at which a consumer values a good or service enough to purchase it.

Producer Surplus

The difference between the amount producers are willing to receive for a good or service and the amount they actually receive, due to higher market prices.

Equilibrium Price

The price at which the quantity of a good or service offered by sellers equals the quantity demanded by buyers, leading to a stable market condition.