Identify and Briefly Describe the Three Possible Outcomes People Perceive

question 121

Essay

Identify and briefly describe the three possible outcomes people perceive when they compare their ratio of inputs/outcomes with a referent,according to equity theory.What is one way that a person could restore their sense of equity in each of these situations?

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Definitions:

Technological Progress

Advances in technology that improve the efficiency of production processes, potentially leading to economic growth.

Labor-Saving

Technologies or methods that decrease the amount of labor required to produce goods or services, thereby increasing productivity.

Output Per Worker

The quantity of goods and services produced per unit of labor.

Profit-Maximizing

The process by which a company determines the price and output level that returns the greatest profit.