What Is Being Described Here? a Performance Management Activity Which

question 4

Multiple Choice

What is being described here? A performance management activity which involves feedback on an individual's performance being gathered from a range of people who work with him or her?

• A) Performance appraisal
• B) Three hundred and sixty degree feedback
• C) Competency-based performance management
• D) Qualitative performance review

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Definitions:

Marginal Product

The extra production achievable by incorporating an additional unit of a particular input, assuming all other variables remain constant.

Average Product

The output per unit of input, calculated by dividing total output by total input.

Diminishing Marginal Returns

Diminishing Marginal Returns is an economic principle stating that as additional units of a factor of production are added to a fixed amount of other factors, the incremental increase in output will eventually decrease.

Marginal Product

The additional output that results from using one more unit of a specific input, keeping other inputs constant.