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Cascading is essential to promoting consistency in goals. Which three criteria must be met for goal cascading to be successful? Describe and explain each criterion.
Labor-Capital Ratio
The ratio of labor inputs to capital inputs in production, reflecting the relationship between the workforce and machinery or capital assets.
Physical Capital
The stock of tangible assets, like machinery, buildings, and vehicles, used in the production of goods and services.
Labor Productivity
An economic indicator that assesses how many goods and services are produced in comparison to the total hours worked to produce them.
Total Employment
The total number of individuals currently employed in the economy, both full-time and part-time.
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