Business Cycles Are Fluctuations in Economic Output That Occur Approximately

question 106

True/False

Business cycles are fluctuations in economic output that occur approximately every four years.

---

Definitions:

Frederick Taylor

Pioneer of scientific management theory, which emphasizes efficiency and productivity through the analysis and organization of work flows.

Standardization

The process of developing and implementing technical standards to make a process or product more consistent and efficient.

Task Study

The examination and analysis of how tasks are accomplished within an organization, often aiming to enhance efficiency and productivity.

Theory Y

is a management approach that assumes employees are self-motivated, enjoy work, and will seek and accept responsibility and challenges.