The Return to Any Factor of Production That Is in ________

question 54

Multiple Choice

The return to any factor of production that is in ________ is pure rent.

• A) variable supply
• B) fixed supply
• C) fixed demand
• D) variable demand

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Definitions:

Personal Opinion

An individual’s view or judgment formed about something, not necessarily based on fact or knowledge.

Contrast Error

A bias in performance appraisal that occurs when evaluations are influenced by comparing employees against each other instead of against objective standards.

Subjective Measures

Evaluation or assessment methods based on personal opinions, interpretations, points of view, or feelings rather than quantifiable metrics.

Rater Bias

Refers to the prejudice or partiality that evaluators (raters) might show towards or against certain individuals or groups during appraisal processes, affecting the objectivity of assessments.