Examlex
In the process of performance appraisal,_________ error occurs when assessors rate all workers as average or in the middle of the scale.
Market Equilibrium
The state in a market where the quantity demanded equals the quantity supplied, leading to a stable price level for goods or services.
Total Surplus
The sum of consumer surplus and producer surplus, representing the total benefit to society from the production and sale of a good or service.
External Benefits
Positive effects of a production or consumption activity on third parties not directly involved in the transaction, leading to social or economic benefits.
Total Surplus
The sum of consumer and producer surplus, representing the total net benefit to society from a market transaction.
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