When Evaluating Employees, It Is Important to ________ Performance Problems

question 55

Short Answer

When evaluating employees, it is important to ________ performance problems carefully to support any decisions that need to be made about pay, promotions, or termination.

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Definitions:

Economies of Scale

The cost advantage achieved when production becomes efficient, as the scale of production increases, leading to a reduction in the average cost to make each unit.

Diseconomies of Scale

A situation where, as a firm becomes larger, its costs per unit increase due to inefficiencies that arise from its growth.

Constant Costs

The costs that remain unchanged as the level of output or production increases or decreases.