Which of the Following Would Be Included Under the Definition

question 11

Multiple Choice

Which of the following would be included under the definition of a manager?

• A) President of IBM
• B) Prime Minister of Canada
• C) Head of the business department at a local college
• D) Shipping dock foreman
• E) All of these would be included

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Definitions:

Wage Disparity

The difference in wages between groups of workers, often based on gender, age, or race.

Wage Differentials

The differences in wage rates due to the variations in the skill level, occupation, region, and other factors affecting compensation.

Diminishing Returns

The principle stating that as one factor of production is increased while others are held constant, a point will eventually be reached where additions of the factor yield progressively smaller increases in output.

Value Added

The increase in worth of a product or service as a result of a particular stage of production or as it moves through the supply chain.