Total Quality Management Emphasizes

question 62

Multiple Choice

Total quality management emphasizes:

• A) the responsibility of the quality control staff to identify and solve all quality-related problems.
• B) a commitment to quality that goes beyond internal company issues to suppliers and customers.
• C) a system where strong managers are the only decision makers.
• D) a process where mostly statisticians get involved.
• E) ISO 14000 certification.

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Definitions:

Inferior Goods

Goods for which demand decreases as the income of the consumer increases, opposite to normal goods.

Normal Goods

Goods for which demand increases as consumers' income increases, holding all other factors constant.

Cross-Price Elasticity

A measure of how the quantity demanded of one good changes in response to a price change of another good.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price in a specific period.