The Only Way to Categorize Jobs Is to Draw Up

question 35

True/False

The only way to categorize jobs is to draw up class descriptions and place jobs into classes based on their correspondence to these descriptions.

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Definitions:

Marginal Product

The additional output that an additional unit of input (such as labor or capital) will produce, holding all other inputs constant.

Returns To Scale

The change in output resulting from a proportional change in all input factors where all inputs are increased or decreased by the same factor.

Marginal Products

This refers to the additional output that results from using an extra unit of a particular input, assuming other inputs are constant in the production process.

Production Function

A mathematical expression that describes the relationship between input factors and the output of goods or services.