Which of the Following Is NOT a Use of Labor

question 125

Multiple Choice

Which of the following is NOT a use of labor standards?

• A)labor content of items produced
• B)cost and time estimates prior to production
• C)crew size and work balance
• D)basis of wage-incentive plans
• E)All of the above are uses of labor standards.

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Definitions:

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Point T

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Scarcity

The basic economic problem that arises because people have unlimited wants but resources are limited, necessitating the allocation of resources.

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Access to an infinite amount of materials or assets without any constraints.