The Demand Curve for Labor Slopes Down Because

question 141

Multiple Choice

The demand curve for labor slopes down because

• A) firms value less efficient workers less than they value more efficient workers.
• B) firms must lower prices to sell the additional units of its product that the extra workers produce.
• C) of the law of diminishing marginal product.
• D) of profit maximizing behavior.

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Definitions:

Theory X Managers

Managers who assume employees are inherently lazy and must be coerced or controlled to perform their duties.

Exceed Expectations

To go beyond what is anticipated or required, often surprising others with the level of performance or results.

Herzberg's Motivational Factors

Elements identified by Frederick Herzberg that affect job satisfaction and motivate employees, such as achievement, recognition, and the nature of the work itself.

Working Conditions

The environment, terms, and circumstances under which an employee works, including hours, physical conditions, and legal rights.