After Examining Performance Data,the Queen City Awning Company Has Determined

question 16

Multiple Choice

After examining performance data,the Queen City Awning Company has determined that each employee should be able to manufacture ten canvas awnings each day.This is an example of an internal:

• A) paradigm
• B) yardstick
• C) prototype
• D) process norm
• E) benchmark

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Definitions:

Productive Efficiency

A situation in which an economy or entity is operating in such a way that it cannot produce more of one good without producing less of another.

U.S. Economy

The economic system of the United States, characterized by private enterprise, a variety of industries, and is considered one of the largest and most influential economies in the world.

Production Possibilities Frontier

A graph that shows the highest production potential for two products, based on available resources and various factors.

Means of Production

The resources—including land, labor, capital, and technology—used to produce goods and services in an economy.