Millions of Producers Working Across the World Cooperate to Ensure

question 116

Multiple Choice

Millions of producers working across the world cooperate to ensure that many more millions of consumers can have the goods and services they desire. These producers do not know each other and are not coordinated by a central agency. Their actions are directed simply by:

• A) self-interest.
• B) robotic technology.
• C) their governments.
• D) computer technology.

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Definitions:

Job Evaluation Results

The outcomes derived from a systematic process of determining the relative worth of various jobs within an organization, often influencing compensation.

Point Method

A job evaluation system where different aspects of a job are broken down into factors, each of which is then assigned a score or point value to determine relative worth.

Point Scores

A method used in job evaluation that assigns numeric scores to different aspects of a job's requirements to assess its relative worth.

Correlation Coefficient

A numerical measure that indicates the degree and direction of a relationship between two or more variables, with values ranging between -1 and 1.