The Three Approaches to Measuring Economic Activity Are the

question 94

Multiple Choice

The three approaches to measuring economic activity are the

• A)cost, income, and expenditure approaches.
• B)product, income, and expenditure approaches.
• C)consumer, business, and government approaches.
• D)private, public, and international approaches.

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Definitions:

Manufacturing Jobs

Positions involved in the creation of products from raw materials or components, using various processes, tools, and machinery.

Centralized Decision-making

A decision-making process where major decisions are made by a small group of people or a single individual at the top of the organizational hierarchy.

Time-and-motion Studies

A business efficiency technique combining the timing of work tasks with a study of the motions required to perform them, used to increase productivity.

Industrial Engineering

An engineering discipline focusing on optimizing complex processes, systems, or organizations by eliminating waste and improving efficiency.