If a Firm Is Not Forced to Pay for External

question 239

Multiple Choice

If a firm is not forced to pay for external costs, it will

• A) continue to overproduce the good.
• B) continue to under produce the good.
• C) request a subsidy from the government.
• D) raise prices.

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Definitions:

Scientific Management

A management theory focusing on improving economic efficiency, especially labor productivity, through scientific methods.

Membership-based Rewards

Benefits or incentives provided to individuals based on their affiliation or status within a group or organization.

Fredrick Taylor

Known as the father of scientific management, he introduced efficiency techniques and principles in the management of work and workers.

Job Enrichment

A method of motivating employees by giving them more responsibility and variety in their jobs.