Results-Based Formats for Performance Measurement

question 54

Multiple Choice

Results-based formats for performance measurement:

• A)works best for employees that perform different tasks on a daily basis like a lawyer or an engineer
• B)are basically problem-free
• C)can ignore important job behaviors that are difficult to quantify
• D)are typically used by companies where how a task is accomplished is as important as if it is accomplished
• E)are accurately described by all of the above

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Definitions:

Government-set Standards

Regulations established by government bodies to ensure quality, safety, and fairness in the production, provision, or use of goods and services.

Efficiency Loss

The loss of economic efficiency that occurs when the competitive equilibrium in a market is not achieved or is distorted.

Health Insurance

An insurance policy designed to cover costs related to medical care, including surgery, prescriptions, and occasionally dental treatments for the policyholder.

Price Elasticity of Demand

The degree to which the quantity demanded of a good changes in response to a change in its price, indicating consumers' sensitivity to price variations.