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Olaf works on an assembly line in an Oslo factory.Last month the assembly line processes were overhauled.Olaf is still responsible for soldering electrical contacts on an appliance component,but now he is also expected to review each component for quality defects after he solders.If he notes any defects,he can place the component in the scrap bin.If he scraps five such pieces in succession,he is permitted to press an emergency button above his station,which stops the assembly line completely.This job re-design is a reflection of the _____ ______________ philosophy.
Opportunity Cost
The value of the next best alternative foregone as the result of making a decision.
Social Security Trust Fund
A governmental fund that collects payroll taxes to provide retirement, disability, and survivors' benefits.
Federal Government
The national government of a federation, responsible for national affairs, distinct from state or local governments.
Bonds
Fixed-income securities that represent loans made by investors to borrowers, typically corporate or governmental, which pay interest over a defined period and return the principal at maturity.
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