Examlex
Performance evaluation methods can be broadly classified in which of the following categories of approaches?
Output
The total quantity of goods or services produced by an individual, firm, or country within a certain period.
Diminishing Marginal Returns
A principle in economics that indicates a decreasing level of incremental output for each additional unit of input, after a certain point.
Total Product
The aggregate quantity of output produced by an economic unit from a given set of inputs during a specific period of time.
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