Some Observers Have Noted That Technology Already Has Eliminated Much

question 53

Multiple Choice

Some observers have noted that technology already has eliminated much and in the future will eliminate even more of the work now being done by:

• A)Top level managers
• B)Middle managers and white-collar staff
• C)Maintenance workers
• D)Line employees and service staff

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Definitions:

Strong Axiom

A mathematical condition used in decision theory and economic models that strengthens the requirements for consumer choice consistency over time or across different conditions.

Revealed Preference

A theory that determines consumer's preferences by observing their purchasing habits and behaviors instead of their preferences being explicitly stated.

Revealed Preference

A theory that assumes individuals' preferences can be determined by their purchasing habits.

Weak Axiom

A principle in consumer choice theory stating that if a consumer prefers bundle A over bundle B when both are available at the same prices, then the consumer will not purchase more of bundle B if its price rises.