Which of the Following Goals of a Performance Evaluation System

question 67

Multiple Choice

Which of the following goals of a performance evaluation system is accomplished when the company's actual results are compared to industry standards?

• A) Motivation of unit managers
• B) Promotion of goal congruence
• C) External benchmarking
• D) Communicating expectations

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Definitions:

Total Product

refers to the total output or quantity of goods produced by a firm or country at a given level of input during a specific period.

Labor Demand Curve

A graphical representation that shows the quantity of labor that businesses are willing and able to hire at different wage rates, typically sloping downward from left to right.

Purely Competitive

A market characterized by a large number of small firms, a homogeneous product, and easy entry and exit, leading to firms being price takers.

Marginal Product

The additional output that is produced by using one more unit of a particular input, keeping all other inputs constant.