Match Each Item with the Correct Statement Below

question 114

Multiple Choice

Match each item with the correct statement below.
-Activities necessary to remain in business

• A)cycle time
• B)direct tracing
• C)activity sharing
• D)driver tracing
• E)value-added activities
• F)activity selection

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Definitions:

Labor Usage

The total amount of labor, measured in hours or number of employees, utilized in producing goods or services.

Average Product

Average product is the output produced per unit of input, calculated by dividing total production by the number of units of input.

Marginal Product

This is the additional output resulting from one more unit of a given input, keeping all other inputs constant.

Labor Employment

The process or state of engaging individuals in work or activities that require the use of their skills and labor in return for payment.