The Process Through Which an Organization Gets Information on How

question 61

Multiple Choice

The process through which an organization gets information on how well an employee is doing his or her job is known as:

• A)benchmarking.
• B)performance appraisal.
• C)job enlargement.
• D)job rotation.
• E)in-basket analysis.

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Definitions:

Consumer Surplus

The gap between the aggregate sum consumers are ready and can afford to pay for a good or service and the aggregate sum they actually spend.

Uses of Markets

The functions markets serve in allowing buyers and sellers to exchange goods, services, and information, facilitating the allocation of resources.

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a given price.

Increase in Demand

A situation where more of a good or service is desired by consumers at all price levels, shifting the demand curve rightward.