--%>
Assignment Help - homework help

Explain the behavior of the workers

Use the economic perspective to explain the behavior of the workers?  Why do they work so diligently?

E

Expert

Verified

Workers at the fast-food restaurant are also engaging in rational behaviour attempting to achieve maximum fulfillment of their goals.  Every worker is considered the opportunity cost of being in the restaurant rather than participating in the activity that is perceived as the next best alternative (say, cruising around in their cars).

The diligence observed is a function of their desire to maintain employment and the marginal benefit they receive from another day’s pay.  Most among them quit their jobs after high school graduation because they receive more highly valued offers for the use of their time.

   Related Questions in Business Economics

  • Q : Exchange rate in purchasing power parity

    Question: In June 2005, a Big Mac sold for 6,000 pesos in Colombia and $3.00 in the United States.  The exchange rate in June 2005 was 2,300 pesos per US Dollar.  So, on Big Mac purchasing power parity gr

    		•
  • Q : Explain determining the types of the

    Explain determining the types of the various products that will be produced?

    		•
  • Q : Importance of Economics Importance of

    Importance of Economics:Economics has become one of the major branches of social sciences. This is of enormous practical value in our day by day life. In pure sciences, we study the subject

    		•
  • Q : Elucidate how Personal income tax is a

    Elucidate how Personal income tax is a major source?

    		•
  • Q : Determine the relative cost of a product

    If banana divides are $2, CD disks are $10, and SCUBA vacations are $360, then what is the relative cost of a SCUBA vacation in phrases of a CD disk: (i) 36 disks. (ii) 360 disks. (iii) 180 disks. (iv) 20 disks. (v) 3,600 disks.

    Q : Regulate prices to ensure against

    Not between exact activities for government to undertake, according to Adam Smith, would be for the government to: (1) maintain public institutions and public works. (2) protect society by invasion. (3) serves as a medium for law and justice. (4) regu

    		•
  • Q : Relation of increased productivity by

    Discussion of a pin factory by Adam Smith focused upon the increased productivity related along with: (w) free international trade as per absolute advantage. (x) specialization and the division of labor. (y) free international trade as per comparative advantage. (z) certainty abo

    		•
  • Q : Describe redistributive effects of

    Describe redistributive effects of inflation?

    		•
  • Q : Introduction of the term net present

    Give a brief introduction of the term net present value? Write down its admittable rules, their merits and demerits?

    		•
  • Q : Risky forms of production to gain

    Entrepreneurs: (w) undertake risky forms of production to gain uncertain profits. (x) obtain interest payments for their services. (y) are usually overcompensated for their innovations. (z) receive virtually all their wealth by inheritance.