Use the Following to Answer Question(s): Production Possibilities Curve

question 14

Multiple Choice

Use the following to answer question(s) : Production Possibilities Curve

-(Exhibit: Production Possibilities Curve) If an economy is operating on its production possibilities curve, the law of increasing opportunity costs predicts that:

• A) as more tractors are produced, fewer and fewer drill presses must be given up.
• B) as more tractors are produced, more and more drill presses must be given up.
• C) as more tractors are produced, the same amount of drill presses must be given up.
• D) as more drill presses are produced, fewer and fewer tractors must be given up.

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Definitions:

Performance Appraisal

A systematic evaluation of an employee's job performance and productivity, usually involving the assessment of various attributes and achievements.

Relevant Aspects

Pertinent features or considerations that are directly related to the matter at hand or under discussion.

Forced-Distribution

A performance management system where employees are ranked and rated according to a pre-determined distribution curve, often leading to a certain percentage of employees being classified in categories such as high, medium, or low performers.

Performance Measurement

The process of quantifying the efficiency and effectiveness of past actions, using various indicators to assess outcomes against set standards or objectives.