Continuous Improvement Is the Attempt to __________

question 121

Multiple Choice

Continuous improvement is the attempt to __________.

• A)Continually watch quality control to detect errors.
• B)Maintain the quality advantage by always looking for new ways to improve current performance.
• C)Look for ways to confirm current production methods.
• D)Seek competitive marketing opportunities.
• E)Monitor future production.

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Definitions:

Required Reserves

The minimum amount of deposits that a bank must hold in reserve and not lend out, as mandated by central banking regulations.

Excess Reserves

The amount of reserves that banks hold beyond the required minimum to meet potential withdrawals by customers.

Liquid Asset

Assets that can be quickly and easily converted into cash without significant loss in value.

Store Of Value

An asset that can be saved, retrieved, and exchanged at a later time, and is predictably useful in the future to purchase goods and services.