A 100% Learning Curve Implies That

question 12

Multiple Choice

A 100% learning curve implies that

• A) learning is taking place for all products and workers.
• B) learning is taking place at the best possible level.
• C) a 100% reduction in the direct labour time takes place each time the production is doubled.
• D) no learning is taking place.
• E) maximum learning is taking place.

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Definitions:

Zero-balance Accounts

Bank accounts that are maintained at a zero balance by automatically transferring funds from a master account in amounts only large enough to cover presented checks or debits.

Master Account

A central account that can control or aggregate several sub-accounts, often used in finance for managing investments or in banking.

Lockbox System

A service offered by banks to companies for the rapid collection of customer payments, by providing a special address to which payments are sent directly.

Opportunity Costs

The loss of potential gains from other alternatives when one alternative is chosen.