Use the Production Possibilities Data Below to Answer the Following

question 29

Multiple Choice

Use the production possibilities data below to answer the following question(s) .
Table 2-3

-Refer to Table 2-3. The opportunity cost of 1 pound of meat for the rancher is

• A) 4 hours of labor.
• B) 5 hours of labor.
• C) 4/5 pounds of potatoes.
• D) 5/4 pounds of potatoes.

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Definitions:

Expectancy Theory

Expectancy Theory is a motivational theory suggesting that individuals are likely to engage in behaviors when they believe that their efforts will lead to desirable outcomes.

Incentive Pay

A compensation system designed to reward employees based on their performance, achievements, or the attainment of specific targets, aiming to motivate and improve productivity.

Personally Meaningful

Something that holds significant personal value or relevance to an individual, often tied to individual experiences or beliefs.

Realistic Job Previews

An HR technique that provides potential employees with a true picture of what their jobs will entail, helping to reduce turnover by setting appropriate expectations.