The Leadership Category in the 2011-2012 Baldrige Criteria Consists of Two

question 60

True/False

The leadership category in the 2011-2012 Baldrige Criteria consists of two examination items: senior leadership and communication and organizational performance.

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Definitions:

Labor

The work performed by humans that is used in the production of goods and services.

Diminishing Marginal Returns

An economic principle stating that as one factor of production increases while others remain constant, the incremental gains in output will eventually decrease.

Input

Resources such as labor, materials, and capital used in the production of goods and services.

Average Fixed Cost

The fixed costs of production (costs that do not change with the level of output) divided by the quantity of output produced.