LEARNING goal 3
Compare socialism and communism.
Socialism is an economic system based on the premise that some, if not most, basic
businesses (e.g., steel mills, coa
Learning Goal 1. Explain basic economics.
What is economics?
Economics is the study of how society chooses to employ resources to produce
goods and services and distribute them for consumption among various competing
After you have read and studied thischapter, you should beableto:
Explain Taylor's theory ofscientificmanagement.
Describe the Hawthorne studies and their significance tomanagement.
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