A Performance Appraisal System That Combines a Graphic Rating Scale

question 87

Multiple Choice

A performance appraisal system that combines a graphic rating scale and a critical incident system into one process is a(n) ________.

• A) behaviorally anchored rating scale
• B) objective
• C) 360-degree feedback
• D) written essay

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Definitions:

Monopolistically Competitive

Describes a market structure where many companies sell products that are similar but not identical, allowing for competition based on factors other than price, such as quality and branding.

Average Total Cost Curve

A graphical representation showing how the average total cost of production changes as the quantity of output is increased.

Normal Profits

Normal profits are the minimum level of earnings needed for a company to remain competitive in the market, often considered as part of the firm's opportunity costs.

Monopolistically Competitive

A market structure where many firms sell products that are similar but not identical, allowing for differentiation through branding, quality, or other attributes, leading to some level of pricing power.