Tangible Standards Are Standards of Performance That Are Difficult to Measure

question 73

True/False

Tangible standards are standards of performance that are difficult to measure.

---

Definitions:

Workers

Individuals engaged in a task or activity for wages or salary.

Diminishing Marginal Product

The decrease in the additional output gained from using an extra unit of a production input, holding all other inputs constant, beyond a certain point.

Marginal Product

The supplementary yield that comes from the utilization of an extra unit of a given input, with all other inputs remaining fixed.

Number of Workers

The total count of individuals currently employed or available for employment in a specific labor market.