A Shortcoming of Scientific Management Is That

question 61

Multiple Choice

A shortcoming of scientific management is that:

• A)it doesn't bring about a close match of worker capabilities and demands of the job
• B)it removes or reduces managerial authority of supervisors
• C)it undervalues the human capacity for thought and creativity
• D)it only works in manufacturing settings

Comprehend the role of implicit and explicit costs in business decision-making.

Analyze how firms calculate total cost and the impact of various costs on business profitability.

Identify the factors influencing firm’s short-run and long-run operational decisions.

Understand the implications of opportunity costs and how they relate to implicit costs.

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Definitions:

Mutual Benefit Bailment

An arrangement where both the bailor and bailee receive some benefit from the bailment, such as a loaned item or use of property.

Bailment

The act of temporarily transferring possession but not ownership of personal property to another person under a contract.

Consideration

The value (which can be a promise, an act, or an object) exchanged between parties in a contract.

Voluntary Transfer

The act of willingly transferring ownership or interest in an asset from one party to another without coercion.