Which of the Following Is Not One of the Three

question 24

Multiple Choice

Which of the following is not one of the three essentials for setting up a successful performance standard system?

• A) Employee participation
• B) The employee should be in charge at all times
• C) Active supervisory leadership and assistance throughout
• D) Built-in reward system
• E) Both b and d

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Definitions:

Marginal Benefit Curve

A visual chart illustrating the variation in consumer advantage as the amount of a product or service rises.

Private Market

A part of the financial market in which financial instruments and assets are traded that are not available on the public stock exchanges.

Marginal Social Benefit

The additional benefit received by society from the production or consumption of one more unit of a good or service.

Marginal Cost

The expense incurred from manufacturing an extra unit of a product or service.