Economies of experience are exhibited when:
A)it takes a professor a smaller quantity of time to prepare a lesson for a new class than for the first class he taught.
B)an older professor is more intelligent than a younger professor.
C)a professor goes into business as a consultant.
D)a professor reaches age 65 and begins to get a senior citizen discount.

Question

Quizplus · Accepted Answer

Economies of experience refer to the phenomenon where an individual gets more efficient and productive at a task as they gain experience in it. Teaching a class is a task that can benefit from economies of experience, as the professor becomes more familiar with the topic and the teaching methods, allowing them to prepare the lesson more quickly and effectively. The other options given in the answer choices do not relate to economies of experience. Economies of experience refer to the phenomenon where an individual becomes more efficient at performing a task as they gain more experience. In this case, the professor is able to prepare a lesson for a new class in less time because they have previous experience preparing the same or similar lesson.

Economies of Experience Are Exhibited When