Taylor's Scientific management theory employs time-motion research to determine the best approach for personnel to execute each task and then teaches them that method.
Taylor's Scientific Management seeks the most effective approach to execute every task. He believed in universal rules that governed efficiency and that these laws were independent of human judgment. The purpose of Scientific Management was to find the "one best way" to accomplish things as effectively as possible. Frederick Winslow Taylor was an American mechanical engineer who lived from 1856 to 1915. He was the first management consultant and the first to examine work and production scientifically.
He is regarded as the father of Scientific Management and the efficiency movement. Taylor's Incentive Theory, often known as Scientific Management, was one of the first workplace motivation theories.
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Answer:
8.14
Explanation:
The Rate of Return is 8.14 from my calculations which you can find in the attached file.
Now since the Rate of return is 8.14. Which is less than MARR of 12%, it shows that investment is not good.
Answer and Explanation:
The computation of the effect on real GDP is shown below:
change in GDP is
= Multiplier × change in investment
= 1 ÷ (1 - MPC) × change in investment
= 1 ÷ (1 - 0.65) × $150 billion
= 2 × $150 billion
= $300 billion
And, the marginal propensity to consume is
= Change in spending of consumer ÷ income change
= (2,100 - 1,200) ÷ (4,000 - 3,000)
= 900 ÷ 1,000
= 0.9
Free riders are those who gain from a thing without contributing to its manufacturing expenses.
<h3>When the creation of a thing incurs external expenses, the?</h3>
- An external cost occurs when the production or use of a goods or service imposes a cost (negative effect) on a third party.
- If a good has external costs connected with it (negative externalities), the social costs will be larger than the private cost.
- Market failure may occur in the presence of external expenses. This is because the free market frequently ignores the existence of external expenses.
- The cost to a third party of consuming/producing one more unit is known as the external marginal cost (XMC).
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Elephant I would guess........
