The Formula Used to Compute Total Task Time for Work

question 30

Multiple Choice

The formula used to compute total task time for work measurement purposes is

• A) (average time / unit + idle time / unit) × average volume.
• B) total time available / total task time.
• C) (average volume / unit + average time / unit) × average volume.
• D) total task time / total time available.

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Definitions:

Excise Tax

A tax usually imposed on specific goods such as tobacco, alcohol, and gasoline, aimed at reducing consumption or raising revenue.

Supply Curve

A graphical representation of the relationship between the price of a good or service and the amount of it that producers are willing to supply at that price.

Elastic Demand

A condition where the quantity demanded of a good or service significantly changes in response to a change in its price.

Efficiency Loss

The decrease in economic effectiveness that occurs when a good or service does not reach or cannot reach its equilibrium state.