A Training Method That Allows Employees to Learn Techniques and Behaviors

question 58

Multiple Choice

A training method that allows employees to learn techniques and behaviors in a simulated work place is ________.

• A) job rotation
• B) all-for-one training
• C) vestibule training
• D) an apprenticeship

Interpret the law of comparative advantage and its implications for productivity and trade.

Analyze scenarios to determine individuals’ or countries’ comparative and absolute advantages.

Understand the concept of absolute and comparative advantage in economic transactions.

Distinguish between absolute advantage and comparative advantage.

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Definitions:

Economies of Scope

Cost advantages that enterprises obtain due to efficient resource utilization in producing a variety of products rather than specializing in a single product.

Learning by Doing

The process of gaining skill or knowledge from direct experience or practice.

Economies of Scale

The cost advantages that enterprises obtain due to their scale of operation, which often leads to a reduced cost per unit of output.

Diseconomies of Scope

A situation in which a single firm producing multiple products has higher costs than if each product were produced by a separate firm.