An Economist Is Most Capable of Determining

question 124

Multiple Choice

An economist is most capable of determining

• A) how worker productivity affects the output of an economy.
• B) psychological factors that contribute to worker productivity.
• C) interior paint colors that boost business revenue.
• D) which individuals are allowed to make decisions.
• E) why some consumers prefer emeralds over diamonds.

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Definitions:

Management by Objectives

Management by objectives is a strategic management model where goals are defined for each employee and performance is assessed based on these goals.

Economic Order Quantity

A formula used to determine the optimal order size that minimizes the total costs of holding inventory and placing orders.

Fixed Quantity Inventory

An inventory management system where stock levels are replenished to a set quantity at regular intervals or when reaching a minimum level.

Inventory Control Number

A unique identifier assigned to each item in inventory for the purpose of tracking and management.