The Differences Among Employees on Such Dimensions as Gender, Age

question 37

Multiple Choice

The differences among employees on such dimensions as gender, age, ethnicity, and race is known as

• A) job specification.
• B) workforce diversity.
• C) human resources.
• D) workforce differences.

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Definitions:

Deadweight Loss

A loss in economic efficiency that occurs when the equilibrium outcome is not achievable or is not achieved.

Elastic

A characteristic of a good or service that indicates its sensitivity to changes in price, with relatively large changes in quantity demanded or supplied in response to price changes.

Inelastic

Inelastic describes a situation where the demand or supply for a good or service is not significantly changed by variations in price.

Consumer Surplus

The difference between the maximum price a consumer is willing to pay for a good or service and the actual price they do pay.