The Theories of Consumption Were Developed by

question 22

Multiple Choice

The theories of consumption were developed by

• A)Friedman and Phelps.
• B)Hicks and Hansen.
• C)Modigliani and Friedman.
• D)Lucas and Sargent.

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Definitions:

Optimum Cutting Tool Speeds

Optimum cutting tool speeds refer to the ideal rate at which a cutting tool should operate to efficiently cut material while minimizing wear and tear on the tool.

Frederick W. Taylor

An American mechanical engineer who sought to improve industrial efficiency and is known as the father of scientific management.

Time and Task Study

A methodical analysis designed to optimize the efficiency of tasks and time utilization.

Henry L. Gantt

Henry L. Gantt was an American mechanical engineer and management consultant who developed the Gantt chart, a graphical scheduling tool for project management.