An Error of Central Tendency Is a Performance-Rating Error in Which

question 116

True/False

An error of central tendency is a performance-rating error in which all employees are more or less rated as average.

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Definitions:

Monopolistically Competitive Industry

In a monopolistically competitive industry, numerous firms compete against each other with differentiated products, allowing for some degree of market power and price setting.

Downward Sloping

Describes a line or curve on a graph that shows a decrease in one variable as another variable increases, commonly seen in demand curves.

Depicts

Represents or shows something in a picture or story form, often used to describe how information is visually presented.

Profits

The financial gains obtained when revenues exceed the costs and expenses incurred to operate a business.