The Principles of Scientific Management Were Proposed by

question 1

Multiple Choice

The Principles of Scientific Management were proposed by

• A)Adam Smith
• B)Henry Ford
• C)Frederick Taylor
• D)Elton Mayo

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Definitions:

Market Economy

An economy in which decisions about production and consumption are made by individual producers and consumers.

Public Goods

Items that cannot be restricted to non-payers and whose consumption by one individual does not diminish availability to others; these are accessible to all, regardless of payment.

Positive Externalities

External benefits.

Common Resource

A type of good that is non-excludable but rivalrous, meaning it is available to everyone but its consumption by one person can limit availability to others.