Which of the Following Is the Term for a Visual

question 14

Multiple Choice

Which of the following is the term for a visual display that outlines the major steps in an improvement process?

• A) storyboard
• B) time series graph
• C) flowchart
• D) PDCA

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Definitions:

Demand Shift

Occurs when a change in factors other than the price of the good itself leads to a change in consumer demand, causing the demand curve to move left or right.

Equilibrium Price

The price at which the quantity of a good demanded equals the quantity supplied, leading to no shortage or surplus.

MR

Short for Marginal Revenue, it is the increase in revenue from selling one additional unit of a good or service.

Negative Profits

A financial loss or situation where expenses exceed revenues in a business.