Do you remember purchasing your first car? You probably didn't buy your first car like you would buy
a CD. Purchasing a new or used car is expensive. In addition, you would drive (use) the car for the next
35 years or longer. As
continuous process improvement A management approach that is part of the overall total quality
management philosophy. The approach requires all employees to constantly improve processes of which
they are a part or for which they have managerial
Basic Microeconomics ECON 1200 Class Exercise 1
1. Which of the following statements best represents the principle represented by
the adage, "There is no such thing as a free lunch"?
a. Greg is hungry and homeless.
b. Kendra must decide between going to C