Performance Measures How Quickly a System Performs a Process or Transaction

question 12

True/False

Performance measures how quickly a system performs a process or transaction.

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Definitions:

Marginal Product

The additional output that is generated by employing one more unit of input, such as labor or capital, in the production process.

Optimal Labor Employment

The level at which the addition of one more employee maximizes the organization's net productivity and profit.

Marginal Expenditure

The incremental cost associated with the purchase of an additional unit of a good or service.

Marginal Product

The increase in output that arises from an additional unit of input.