Homework 5 Question (1).docx - HOMEWORK 5 BUS 502 1 HOMEWORK 5 BUS 502 1 Answer Question with at least 150 words It is commonly believed that the best

Homework 5 Question (1).docx - HOMEWORK 5 BUS 502 1...

This preview shows page 1 - 3 out of 7 pages.

HOMEWORK 5- BUS 502 1 HOMEWORK 5- BUS 502 1. Answer Question with at least 150 words: It is commonly believed that the best ways to motivate an employee are (1) to improve the quality of the workplace and (2) to make the employee feel like he/she is part of the company. How would an economist analyze these statements? Answer: The worker satisfaction is one of the most critical aspect of managing the workforce as it directly relates to the overall efficiency and the productivity of the organization. It has been found in many research that improving the quality of workplace and providing a feeling to the manpower as a part of the organization can really improve both of the above sated aspects. For an economist, facilitating the better working environment and working facilities is something which results in some kind of expenses. Of the real productivity of the organization improves and results in better output than the critical resources involved in facilitating this kind of environment then these kind of exercises are quite useful. The aim of these activities should be such that the works feel that the organization value them and they are utilizing the scare resources of the organization to facilitate them the various resources . It is the responsibility of these manpower to respond to these activities and provide them their best and help the organization to recover the expenses exhausted in improving the workplace environment and facilities. 2. Answer Question with at least 150 words: Stella Ann Freeman is having a difficult time deciding whether or not to purchase a new car. How would understanding the concept of opportunity cost help her make a decision?
Image of page 1
HOMEWORK 1- BUS 502 2 Answer: Brickley, Smith, & Zimmerman (2016) explained that individuals face trade-offs when they want to purchase a good or service, this mean that in order to purchase a new car, Stella must take into account what other uses can she find for the money she will be spending in purchasing this new vehicle. For example, instead of spending $25,000 on a new car, can Stella use that money
Image of page 2
Image of page 3

You've reached the end of your free preview.

Want to read all 7 pages?

  • Fall '19

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes
A+ icon
Ask Expert Tutors