Directions: Please read each question's statement carefully and decide whether it is True or False and write your answer to the left of each question. Each question is worth $4$ points for a total of $100\%1.$ Profit is only made in the Maturity Phase of a Product's Life Cycle$\mathrm{.}2.$ A Good can be either a Product or a Service$\mathrm{.}3.$ Concurrent Engineering, Computer$-$Aided Design and Computer$-$Aided Manufacturing are part of product design in product development$\mathrm{.}4.$ Firms may get new technology by Joint Ventures, Alliances, and Acquisitions$\mathrm{.}5.$ Customer satisfaction with a good is defined as a "moment of truth" interaction with the service provider$\mathrm{.}6.$ Economic sustainability is the appropriate allocation of scare resources to make a profit$\mathrm{.}7.$ Logistics is an important function in reducing environmental impact by achieving inefficient routes and delivery networks in the supply chain$8.$ Food distribution companies contribute to environmental sustainability by using whenever applicable trucks with three compartments, one each for frozen, refrigerated and non$-$refrigerated products rather than three dedicated trucks$\mathrm{.}9.$ Life Cycle Ownership and Crossover Analyses are important tools with which to evaluate equipment to select the best option for contributing to the firm's sustainability goals$\mathrm{.}10.$ High quality products are more profitable than their lower quality counterparts because besides customer satisfaction these have lower costs, higher productivity and more repair and warranty costs$\mathrm{.}11.$ Quality is the ability of a good or a service to meet the needs of the customer$/$consumer$\mathrm{.}12.$ Cost of Quality $($COQ$)$ includes prevention cost, appraisal cost, external failure costs and internal failure costs$\mathrm{.}13.$ An effective Total Quality Management $($TQM$)$ program does not include benchmarking.