Contrary to the Allegations of Some Economists,there Is Evidence That

question 35

Multiple Choice

Contrary to the allegations of some economists,there is evidence that the development,promotion,and diffusion of new techniques in an industry may benefit from

• A) a diversity of firm sizes in the industry.
• B) the concentration of production in the hands of a regulated monopolist.
• C) perfect competition.
• D) allowing the industry to form a cartel.
• E) the nationalization of that industry.

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Definitions:

Job Simplification

The process of reducing the complexity of a job by limiting the number of tasks or operations involved, often with the aim of improving efficiency and productivity.

Work Standards

Established expectations and requirements for performance and behavior in the workplace, guiding how tasks should be performed.

Incentive Wage Plans

Compensation schemes designed to motivate employees by linking pay directly to performance or productivity levels.

Motion Study

An analysis technique aimed at improving work efficiency by breaking down tasks into their fundamental motions and eliminating those that are unnecessary.