What do you mean by a specialized task assignment and what are its advantages?
What will be an ideal response?
A specialized task assignment is one where an employee specializes in one specific task. This allows the employee to gain efficiency and comparative advantage, and the company saves money and time as it does not have to worry about cross-training. Finally, this also reduces free riding and shirking; makes a payment-reward system understandable and obvious; and reduces monitoring costs.
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Foreign outsourcing is
A) the transfer of operations to foreign contractors. B) an example of internalization. C) an example of foreign direct investment. D) currently illegal in the U.S. E) the substitution of immigration for foreign direct investment.
Which of the following is a characteristic of "public goods"?
What will be an ideal response?
Which of the following are issues most explored in microeconomics?
A. Measuring the price of specific goods B. The expenditures of a government entity C. A firms decision to hire more workers D. Measuring total revenues of a firm or household E. All of the above
What is the relationship between price elasticity of demand and total revenue for the firm?
What will be an ideal response?