Which Approach Makes It Clear to Managers That People Are

question 132

Multiple Choice

Which approach makes it clear to managers that people are the key to productivity?

• A) Scientific management
• B) Behavioral
• C) Operations management
• D) Contingency
• E) Systems

---

Definitions:

Utility Maximization

The process by which individuals or consumers adjust their consumption of goods and services to achieve the highest level of utility or satisfaction.

Marginal-Utility Schedules

Charts or tables that represent the additional satisfaction or utility a consumer gains from consuming an additional unit of a good or service.

Utility Maximization

A principle in economics that suggests individuals and firms seek to allocate their resources in a way that maximizes their satisfaction or utility.

Diminishing Marginal Utility

A principle stating that as a person consumes more units of a particular good or service, the satisfaction (utility) gained from consuming each additional unit decreases.