An ________ Is A(n)________ Exchange of Promises Between ________ Legally

question 51

Multiple Choice

An ________ is a(n) ________ exchange of promises between ________ legally competent persons to do,or refrain from doing,an act.

• A) offer; voluntary; two (2)
• B) offer; involuntary; two (2) or more
• C) agreement; voluntary; two (2) or more
• D) agreement; involuntary; two (2)
• E) agreement; involuntary; two (2) or more

Grasp the process and objectives of recruitment in organizations.

Know how to create effective job descriptions and how they serve different organizational needs.

Understand the role of supervisors and the human resources department in the recruitment and selection processes.

Recognize effective methods for internal recruitment within an organization.

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Definitions:

Factors Of Production

The inputs used in the creation of goods or services; traditionally includes land, labor, capital, and entrepreneurship.

Capital

Funds or financial assets leveraged by companies to fund their operations and grow their businesses.

Profit

The earnings obtained when the income generated from business operations is higher than the expenses, costs, and taxes required for these operations.

Output Market

Marketplaces where finished goods or services are sold to consumers, as opposed to input markets where raw materials are bought.