Employee Involvement

question 62

Multiple Choice

Employee involvement:

• A) could be provided for in the collective agreement
• B) could be provided for outside of the collective agreement
• C) has been established to always increase productivity
• D) a, b, and c
• E) a and b

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Definitions:

Maximize Profits

A business goal to achieve the highest possible profit by optimizing sales revenue and minimizing costs.

Constant Marginal

Pertains to a situation where the additional cost or benefit of producing one more unit of a good or service remains unchanged.

Average Cost

The sum of all production expenses divided by the amount of product made.

Marginal Revenue

The surplus revenue collected from the sale of an extra unit of a good or service.