In the Textbook, the Prices of the Factors of Production

question 63

Multiple Choice

In the textbook, the prices of the factors of production, returns from alternative activities, technology, seller expectations regarding future prices, and the number of sellers are called:

• A) demand shifters.
• B) supply prices.
• C) market realities.
• D) supply shifters.

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Definitions:

Essay Method

A performance appraisal technique where evaluators write a narrative description of an employee's strengths, weaknesses, and potential.

Behaviourally Anchored Rating Scale

A performance appraisal method that uses specific examples of behavior to rate employees, making the evaluation more objective and transparent.

Graphic Rating Scale

A graphic rating scale is a method used in performance appraisals where an employee's performance is rated on a scale, typically ranging from poor to excellent, across various categories.

Forced-Choice Method

A trait approach to performance rating that requires the rater to choose from statements designed to distinguish between successful and unsuccessful performance.