Labor Productivity Increases Over Time as Individuals Understand and Use

question 38

Multiple Choice

Labor productivity increases over time as individuals understand and use the most efficient ways to perform particular tasks.Equally important,in new production facilities,management typically learns how to manage the new operation more efficiently over time.This demonstrates how production costs eventually decline due to increasing labor productivity and management efficiency because of:

• A)diminishing returns.
• B)economies of scale.
• C)learning effects.
• D)task segmentation.

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Definitions:

Egg

A reproductive cell produced by female organisms, capable of developing into a new individual upon fertilization.

Phenotype

The observable physical or biochemical characteristics of an organism, as determined by both genetic makeup and environmental influences.

Genotype

The genetic makeup of an organism, consisting of all the DNA and genes that contribute to its unique traits.

Somatotype

A classification system for human body types based on physical and physiological characteristics.