The Scientific Management Perspective Refers to the Management Thinking and Practice

question 142

True/False

The scientific management perspective refers to the management thinking and practice that emphasizes satisfaction of employees' basic needs as the key to increased worker productivity.

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Definitions:

Interest Rate

The percentage of an amount of money which is charged for its use per some period of time, often annually.

Real Rate

The interest rate adjusted for inflation, reflecting the true cost of borrowing or the true return on investment.

Nominal Rate

The interest rate before adjustments for inflation, as opposed to the real rate, which is adjusted for inflation.

Rate of Inflation

The percent change in the price level of goods and services in an economy over a period of time, usually measured annually.