Most Managers Prefer Attainable Standards Rather Than Ideal Standards for the Following

question 69

Multiple Choice

Most managers prefer attainable standards rather than ideal standards for the following reasons except:

• A)attainable standards reflect what really happens in the factory.
• B)attainable standards allow for occasional downtime for equipment.
• C)attainable standards motivate employees to achieve perfection.
• D)attainable standards recognize that some materials might have to be scrapped.
• E)None of the answer choices is correct.

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Definitions:

Equilibrium Price

The price at which the quantity of a product demanded by consumers equals the quantity supplied by producers, leading to a balance in the market.

Demand Schedule

A chart indicating the amount of a product or service buyers are prepared and capable of buying at different price levels.

Shortage/Surplus

A state in the marketplace where the demand for a good surpasses its supply, causing a shortage, or where the supply of a product outpaces its demand, resulting in a surplus.

Demand Schedule

A chart detailing the amount of a product that buyers are ready and capable of buying at different price levels.