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Determining,through Observation and Study,the Specific Tasks That Comprise a Job

question 64

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Determining,through observation and study,the specific tasks that comprise a job and the knowledge,skills,and abilities necessary to perform it is called


Definitions:

Marginal Product

The extra output that is produced by using one more unit of a factor, such as labor or capital, while keeping other factors constant.

Ceteris Paribus

A Latin phrase meaning "all other things being equal," used in economics to isolate the effect of one variable.

Production

The process of combining various material inputs and immaterial inputs (plans, know-how) to make something for consumption.

Labor Demand Curve

A graphical representation showing the relationship between the wages paid to workers and the number of workers that employers are willing to hire.

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