What Piece of Information Helped GE Determine That They Needed

question 57

Multiple Choice

What piece of information helped GE determine that they needed a team?

• A)a simple,straightforward goal
• B)high time pressure
• C)low morale amongst employees
• D)a complex,high-stakes goal

---

Definitions:

Economic Profits

The total revenue of a business minus its explicit and implicit costs; it’s a measure of excess above the normal levels of profits businesses earn in a competitive environment.

Long-Run Equilibrium

A state in which supply equals demand, all firms are maximizing profits, and there is no incentive for market entry or exit.

Efficient Output

The level of production at which a firm or economy can produce the maximum amount of goods at the lowest possible cost.

Efficient Output

The level of production where a firm or economy can produce the maximum amount of goods and services with the least amount of inputs.