A Job Has a Normal Time of 12 Minutes, a Performance

question 107

Multiple Choice

A job has a normal time of 12 minutes, a performance rating of .80, and an allowance of 20 percent of job time. The standard time for this job in minutes is:

• A) 11.52.
• B) 12.
• C) 14.4.
• D) 15.
• E) depends on the number of cycles observed.

Understand the concept of marginal external costs and benefits in economic activities.

Analyze the effects of externalities on social efficiency and optimal resource allocation.

Evaluate the role and impact of government interventions, such as taxes and standards, in correcting market inefficiencies.

Apply the principles of marginal analysis to determine optimal levels of production and consumption in the presence of externalities.

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Definitions:

Discretionary Stakeholder

A party with a non-essential interest or stake in a project or business that can affect or be affected by its outcome but is not engaged in daily operations.

Influence

The capacity to have an effect on the character, development, or behavior of someone or something.

Urgent Claims

Demands or requests that require immediate attention or action due to their critical nature.

Nascent Entrepreneurs

Individuals who have set up a business they will own or co-own that is less than 3 months old and has not yet generated wages or salaries for the owners.