After Developing a Predetermined Standard, Stopwatch or Work-Sampling Time Studies

question 43

True/False

After developing a predetermined standard, stopwatch or work-sampling time studies need not be performed.

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Definitions:

Marginal Rate of Substitution

The rate at which a consumer is willing to give up one good in exchange for an additional unit of another good, while keeping utility constant.

Wheat

A cereal grain, originally from the Levant region of the Near East but now cultivated worldwide, which is a staple food in many parts of the world.

Milk

A nutrient-rich liquid food produced in the mammary glands of mammals, commonly consumed by humans as a beverage or used in the production of various dairy products.

Pareto Optimal

A situation or allocation of resources from which it is impossible to reallocate to make any one individual better off without making at least one individual worse off.