Compare and Contrast Convergent and Divergent Thinking

question 128

Essay

Compare and contrast convergent and divergent thinking.

Apply the concept of marginal productivity to determine the optimal number of workers to hire for maximizing profits.

Associate changes in the demand and supply of labor with changes in the equilibrium wage and quantity of labor.

Calculate the value of the marginal product of labor and understand its role in employment decisions.

Understand the impact of technological changes on labor demand and labor productivity.

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Definitions:

Continuous Innovation

The ongoing process of making regular, incremental improvements or updates to products, services, or processes.

Persuasiveness

The ability to convince others to change their beliefs, attitudes, or behaviors through argumentation or appeal.

Compatibility

The degree to which two or more elements are able to exist or work together without conflict.

Discontinuous Innovation

A breakthrough product or service that significantly changes the market or how consumers interact with a market.