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A factory manufacturing line was slow to produce products and was failing to meet quotas.The manager recommendation was to do a time-and-motion study.This is a strong first step.
Hypothesis
A proposed explanation for a phenomenon, based on limited evidence as a starting point for further investigation.
Prototype
An original model or preliminary version from which other forms are developed or copied.
Normative
Relating to principles or rules of what is considered right and wrong, often used in economics to express subjective or value-based judgments.
Other Things Equal
A principle in economic models known as ceteris paribus, which means holding all other variables constant to isolate the effect of one variable.
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