Productivity Is Most Likely to Improve When

question 38

Multiple Choice

Productivity is most likely to improve when:

• A) the process quality is improved upon so that employees work more efficiently.
• B) an organization's managers decide to put the defective products up for sale.
• C) the output of a department or an organization increases along with the increase in cost.
• D) an organization adheres strictly to the EEOC guidelines.

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Definitions:

Market Outcome

A result of interactions between buyers and sellers in a market, determining the price and quantity of goods or services traded.

Pure Monopoly

A market structure where a single seller sells a unique product in the market and no close substitutes exist.

Cartel

Market in which some or all firms explicitly collude, coordinating prices and output levels to maximize joint profits.

Price Strategies

Techniques used by companies to price their products or services with a view to maximizing profits or market share.