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When John's pet employee,Taylor,comes to work late,nothing is said to him.However,when anyone else is late,they get called into his office.This is an example of breaking which of the following guidelines for effective discipline?
Efficiency
Efficiency in an economic context refers to the optimal production and allocation of resources to maximize the satisfaction of needs and wants with minimal waste.
Edgeworth Box Diagram
A graphical representation used in economics to show various distributions of resources and to demonstrate the efficiency of markets.
Production Possibilities Frontier
A curve depicting all maximum output possibilities for two or more goods given a set of inputs, assuming all resources are fully and efficiently utilized.
Input Price Ratio
The ratio of the prices of the inputs used in the production of goods or services.
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