In What Sense Is It a Cost That People Must

question 41

Multiple Choice

In what sense is it a cost that people must spend time and resources coping with inflation?

• A) Because the loss of time and resources frustrates people unnecessarily
• B) Because the time and resources could have been used to produce something else instead
• C) Because the time and resources could have been wasted elsewhere
• D) Because the time and resources are a sunk cost
• E) Because the time and resources are insufficient to cope with the problem

Understand the role of equity, expectancy, and goal-setting in employee motivation.

Identify the differences between content and process theories of motivation.

Understand the implications and criticisms of management by objectives.

Recognize the application of motivation theories to real-world organizational issues.

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Definitions:

Marginal Products

The additional output that is produced by employing one more unit of a specific input, while keeping other inputs constant.

Exponents

mathematical operations denoting how many times a number, the base, is multiplied by itself.

Marginal Products

The increase in output resulting from a one-unit increase in the quantity of a single input, keeping others constant.

Exponents

Mathematical notation indicating the number of times a number (the base) is multiplied by itself.