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The Use of Abstraction in Economics Is Analogous to the Use

question 155

True/False

The use of abstraction in economics is analogous to the use of a road map providing directions to a location.


Definitions:

Management

The process of dealing with or controlling things or people, often within a business or organization.

Scientific Management

A management theory that analyzes and synthesizes workflows to improve economic efficiency, especially labor productivity.

Frederick Taylor

A mechanical engineer who is considered the father of scientific management, focusing on improving economic efficiency and labor productivity through systematic study.

Organizational Behaviour

The study of both group and individual performance and activity within an organization, and how these behaviours can be improved through leadership and control.

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