Which of the Following Statements Is False

question 131

Multiple Choice

Which of the following statements is false?

• A) Quality and productivity have often been viewed as conflicting goals.
• B) Over the years, a number of managers have realized that quality is an essential ingredient of the good or service being manufactured.
• C) Quality has become an overall approach to doing business.
• D) For most businesses, quality costs too much money.
• E) Making products right the first time reduces many of the rejects and much of the rework.

---

Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, leading to a stable market condition.

Elastic

A characteristic of demand or supply indicating a high responsiveness to changes in price.

Pure Rent

Income received by a landowner for the use of a natural resource, land, or location that is essentially in fixed supply.

Pure Rent

Income earned from owning a resource completely fixed in supply, with no additional production cost.