I believe the correct answer from the choices listed above is option A. The term <span> that describes what a business has to pay to correct defective products would be the cost of quality. Hope this answers the question. Have a nice day.</span>
Answer: Determines the standard of life of a nation over the long term.
Explanation:
Economists believe that the economic growth of a country determines the standard of living of its people over the long term which is why measures such as GDP per capita exist.
They argue that if the economy is growing, more wealth will be created for citizens to access and the higher production of goods and services will give citizens more choice on what to buy to be able to improve their standard of living.
Answer:
"Ordering" is the correct solution.
Explanation:
- Ordering expenses are incurred in purchasing a new shipment of manufactured goods. This would include expenditures for the attempting to place of a purchase agreement, cost savings for the evaluation including its batches expected to receive, ends up costing for documentary evidence, etc.
- The cost of ordering correlated negatively with either the cost of transport. This appears to mean because the much more purchases a business location including its providers, the significantly higher the ordering costs will indeed be.
Answer:
E. I, II, and IV only
Explanation:
Six sigma is a management technique that involves measuring the number of defective products resulting from production activities, and carefully undergoing certain processes to reduce these defects and improve quality.
The DMAIC cycle is an important process when using the six sigma technique. It involves;
• Defining the goals and objectives to be achieved and problems to be fixed.
• Measuring the production process to see how it currently performs and gathering data on defective products.
• Analysing the processes to find root causes of problems and possible causes of defects.
• Improving the process by implementing carefully formed plans which will help reduce defects.
• Controlling how the new processes are implemented to yield and sustain favorable results and deliver value to customers.
Six sigma aims to remove variations from business processes to reduce product defects and improve quality.
