The Specific Technical and Operational Proficiencies Needed to Perform a Job

question 21

Short Answer

The specific technical and operational proficiencies needed to perform a job in a specific profession are known as ________ skills.

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Definitions:

Diminishing Returns

A principle in economics where each additional unit of input results in a progressively smaller increase in output.

Diseconomies of Scale

The phenomenon where production costs per unit increase as a firm or industry's output expands.

Output

The amount of something produced by a person, machine, or industry.

Total Cost

The aggregate of fixed and variable costs of production for a given level of output, encompassing all expenses needed to produce goods or services.