The Relative Price of a Good Is All of the Following

question 126

Multiple Choice

The relative price of a good is all of the following except

• A)the ratio of one price to another.
• B)an opportunity cost.
• C)the money price of the good divided by a price index.
• D)the same as the money price of a good.
• E)determined in a market.

---

Definitions:

Source of Human Capital

Origin from which an organization acquires its employees' knowledge, skills, and abilities, contributing to its competitiveness and success.

Internal Supply

Existing employees who can be retrained, promoted, transferred, or otherwise redeployed to fill anticipated future HR requirements.

Labour Market Value

The value that the labor workforce adds to the production of goods or services, often reflected in the wages that employers are willing to pay for specific skills or jobs.

Firm-specific Human Capital

The unique skills, knowledge, and abilities that employees develop through working at a specific firm, contributing to its competitive advantage.