When Firms Add Workers and Get More Efficient They Are

question 137

Multiple Choice

When firms add workers and get more efficient they are benefiting from

• A)the division of labor.
• B)the law of large numbers.
• C)diminishing returns.
• D)diminishing marginal utility.

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Definitions:

Push Strategy

A marketing approach that involves taking the product directly to the customer via whatever means to ensure the customer is aware of your brand at the point of purchase.

Incentives

Motivators or rewards designed to drive people towards certain behaviors or actions, often used in sales and employee performance.

Promotion Decision Process

The strategic planning involved in effectively communicating the value of a product or service to customers, including selecting promotional methods and channels.

Planning Phase

An initial stage in various processes where objectives are defined, resources are allocated, and strategies are developed to achieve goals.