--%>

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 : Use of human and material resources

    What are the merits of speciality in the use of human and material resources?

  • Q : Understates the economic cost of a

    Computing the cost of college education like the cost of books, tuition and materials, room as well as board, and spending money: (i) overstates the economic cost of a college education. (ii) accurately measures the economic cost of a college educatio

  • Q : Describe Quasi-public goods Describe

    Describe Quasi-public goods?

  • Q : Speculation and intermediary operations

    Transaction costs tend to be decreased, prices to consumers are classically stabilized and lowered, and economy-wide efficiency is generally improved through: (1) rigid wage and price controls. (2) central planning that fosters monopo

  • Q : International Trade & Globalization

    Question: 1.   Long-term Growth, International Trade & Globalization a.   In terms of understanding the importance of trade to an economy, the most impor

  • Q : When Economic efficiency is present

    Economic efficiency is present while the: (w) economic system is a pure socialist system. (x) resources obtainable are slightly wasted. (y) value of output is maximized, specified restricted resources. (z) utilization of resources is minimized. <

  • Q : Define condition when one gain unless

    When no one can gain unless someone else loses, in that case current arrangements are: (w) economically efficient. (x) not optimal. (y) inequitable. (z) the best cure for scarcity. Can someone explain/help me with best solution abo

  • Q : Describe Financial Leverage Briefly

    Briefly describe Financial Leverage? In what manner it is calculated? What does low or high financial leverage signify?

  • Q : Calculate Equilibrium Quantity and Price

    1. The owner of a firm calculates that next year's profit will be $1,000. Each successive year profit will increase by 10% (i.e. year 2: $1100; year 3: $1210 and so on.) At the end of the 5th year the firm could be sold for $20,000. A) if the appropriate di

  • Q : Public Sector Government Role

    Illustrate the Public Sector Government’s Role of providing the legal structure?