Which of the Following Is True of Performance Standards

question 70

Multiple Choice

Which of the following is true of performance standards?

• A) Performance standards must be based only on qualitative criteria.
• B) Performance standards should be established while the work is being performed.
• C) Performance standards must be based only on quantitative criteria.
• D) Performance standards should be established before the work is performed.

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Definitions:

International Trade

The exchange of goods and services between countries, allowing economies to grow by specializing in the production of goods they can produce most efficiently.

Quantity Demanded

The total amount of a good or service that consumers are willing to buy at a given price level in a given period.

World Price

The global market price of a commodity, determined by worldwide supply and demand.

Quantity Supplied

How much of a certain good or service suppliers are ready and able to make available for purchase at a specific price point.