Joshua,a New Graduate,reviews the Employee Evaluation for His New Position

question 13

Multiple Choice

Joshua,a new graduate,reviews the employee evaluation for his new position.The first section requires that he list his own specific objectives to be accomplished.This is an example of

• A) the traditional rating scale.
• B) learning goals or management by objectives.
• C) a forced distribution scale.
• D) a behaviourally anchored rating scale (BARS).

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Definitions:

Economic Profits

The surplus remaining after total costs are subtracted from total revenues, taking into account both explicit and implicit costs.

Accounting Profits

The difference between total revenue and explicit costs; the net income a firm reports on its income statement.

Total Costs

The aggregate of all expenses associated with manufacturing products or services, which includes fixed and variable costs.

Most Efficient Output

The level of production at which a firm achieves the lowest possible cost per unit, maximizing productivity and minimizing waste.