What is called an arrangement of workers machines, and equipment in which the product being assembled passes consecutively from operation to operation or the process in which finished products are turned out in a mechanically efficient, though impersonal, manner ?

Related Mcqs:

1. A company is in the ________ stage of the new product development process when the company develops the product concept into a physical product in order to assure that the product idea can be turned into a workable product ?

   A. product development
   B. commercialization
   C. marketing strategy
   D. business analysis

2. If the total product of two workers is 80 and the total product of 3 workers is 90 then the average product of the third worker is ________ and the marginal product of the third worker is _________?

   A. 160; 270
   B. 10; 30
   C. 10; 3.33
   D. 30; 10

3. If a firm were to bid to do a turnkey operation where they would choose a building site designing a cement factory to build the plant hire construction crews assemble materials and equipment to run the new factory and turn over the finished factory ready to operate to the owners the firm would be using which of the following ?

   A. Core Process products selling
   B. Design Products selling
   C. Reciprocal spelling
   D. Systems selling

4. There is an arrangement which allows a firm to use research from another firm at no cost in exchange for executing all of its trades with the firm that provides the research. What this arrangement is called?

   A. Mutual arrangement
   B. Quid Pro quo
   C. Bilateral arrangement
   D. common interest

5. An exchange arrangement was formed in 1979 that governs the currencies of European union member countries. What this arrangement called ?

   A. European Currency System (ECS)
   B. European Monetary Mechanism (EMM)
   C. Common Monetary System (CMS)
   D. European Monetary Fund (EMF)

6. Which of the following is not true with regard to workers who have a high value of marginal product? These workers ?

   A. have skills that are in relatively scarce supply
   B. produce output for which there is great demand
   C. usually have little capital with which to work
   D. are usually highly paid

7. Different workers or group of workers separate the production works and trade into__________processes. What this separation is called?

   A. Divided Labor
   B. Closed shop
   C. Division of Labor
   D. Open shop

8. Economists have hypothesized that the widening gap between the wages of unskilled workers and skilled workers may be due to ?

   A. decrease in the demand for unskilled workers because of increases in technology and increases in international trade
   B. increase in the number of unskilled workers available due to immigration into the UK.
   C. decrease in the demand for unskilled workers are more poorly educated
   D. increase in the number of unskilled workers available because workers are more poorly educated

9. Which of the following help explain why firms pay bonuses to workers during particularly profitable years to prevent workers from becoming disgruntled ?

   A. people are rational maximizers
   B. People are reluctant to change their minds
   C. People are inconsistent over time
   D. People care about fairness

10. If an increase in consumer incomes leads to a decrease in the demand for camping equipment, then camping equipment is ?

    A. a normal good
    B. none of these answers
    C. an inferior good
    D. a substitute good