Which of the Following Would Be Evident in a Manufacturing

question 54

Multiple Choice

Which of the following would be evident in a manufacturing company in which industrial engineers have maximized efficiency by determining the best way to perform every task from tightening a bolt to operating a forklift?

• A) scientific management
• B) equity theory
• C) the Hawthorne effect
• D) expectancy theory

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Definitions:

Deadweight Loss

A loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved, resulting in a mismatch between supply and demand.

Deadweight Loss

The loss of economic efficiency that occurs when the optimal level of supply and demand is not achieved.

Labor Market

The demand and supply of labor, in which individuals look for jobs and employers search for employees.

Deadweight Loss

When a good or service fails to reach or cannot reach its market balance, an economic inefficiency occurs.