Scientific Management Evolved at the Dawn of the Twentieth Century

question 123

Multiple Choice

Scientific management evolved at the dawn of the twentieth century because

• A) labor was in abundant supply.
• B) worker efficiency was low.
• C) capital was in short supply.
• D) information was rapidly changing.
• E) piecework pay systems were not working.

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Definitions:

Documentary Collection

A financial transaction in which a seller instructs their bank to forward documents related to the export of goods to the buyer's bank with instructions for payment.

Commercial Letter

A document used in international trade, containing information about a transaction or agreement between businesses.

Mutual Funds

Investment programs funded by shareholders that trade in diversified holdings and are professionally managed.

Exchange-Traded Funds

Investment funds that are tradeable on stock exchanges, similar to stocks, and hold assets such as stocks, commodities, or bonds.