The Principle of Increasing Opportunity Costs States That

question 159

Multiple Choice

The Principle of Increasing Opportunity Costs states that:

• A)productive people do the hardest tasks first.
• B)when increasing production, resources with the lowest opportunity costs should be used first.
• C)when increasing production, resources with the lowest opportunity costs should be used last.
• D)opportunity costs increase when too little is produced.

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Definitions:

Pre-employment

Pertaining to processes or assessments that occur before an individual officially becomes an employee.

Psychological Contract

An unwritten agreement that sets out mutual expectations between employees and employers, including informal arrangements, perceived promises, and obligations.

Reality Shock

The experience of realizing that the actualities of a situation or environment are different from one's expectations or beliefs.

Corporate Culture

The collection of beliefs, values, attitudes, and behaviors that shapes the social and psychological environment of a business organization.