Examlex
A type of observation method based on taking statistical samples of job actions throughout the workday,as opposed to continuous observation of all actions:
Production Function
A mathematical model that describes the relationship between inputs used in production and the output produced from those inputs.
Labor Hired
The quantity of work force employed by businesses to perform various tasks, measured in worker units or hours.
Minimize Costs
The process of finding strategies and methods to reduce expenses and operational costs to the lowest possible level without sacrificing quality or performance.
Production Function
An equation that describes the relationship between inputs (like labor, capital) and the maximum output that can be produced with those inputs.
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