Performance Appraisals Are a Formal Assessment of Employees That Should

question 191

Multiple Choice

Performance appraisals are a formal assessment of employees that should be conducted regularly because they

• A) validate selection methods.
• B) establish a basis for rewards.
• C) provide feedback to help employees improve performance.
• D) help determine training and development needs.
• E) All of these choices

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Definitions:

Short Run

An interval in economic studies where a minimum of one production element remains constant and is unalterable.

Variable Costs

Expenses that change in proportion to the activity of a business.

Short Run

A time period in economics during which at least one input, such as plant size, is fixed and cannot be altered.

Profit Maximization

The procedure through which a business identifies the pricing and production volume that yields the highest earnings.