Take the concepts learned in a classroom

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9. Good managers (and economists) can take the concepts learned in a classroom and apply them to the real world. That's why understanding the concepts is crucial to being a good manager. A good economist also understands that applying certain concepts in the real world is often easier said than done. Therefore, discuss the problems of measuring productivity in actual work situations. How might a manager try to estimate productivity for each of the following situations?

a. Education (e.g., elementary and secondary education, higher education)?

b. Government (e.g., the Social Security office, the IRS)?

c. Manufacturing (e.g., soap and toothpaste, computers, machinery)?

d. Finance and insurance (e.g., banks, insurance companies

Reference no: EM13684393

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