In Mixed Economies,economic Behaviour Is

question 106

Multiple Choice

In mixed economies,economic behaviour is

• A)largely determined by a central authority.
• B)based primarily on custom and habit.
• C)directed only by self-interest.
• D)affected by elements of tradition,government command,and market incentives.
• E)random and unpredictable.

Recognize the significance of aligning HR practices with organizational strategy for optimal performance.

Understand the financial implications of HR practices, including ROI.

Comprehend the foundational reasons for the establishment of HR departments.

Learn effectiveness measures for HR and their link to organizational survival.

---

Definitions:

Control Costs

The act of monitoring and managing expenses to adhere to a budget or improve efficiency, ensuring profitability and financial stability.

Benchmark

A standard or point of reference against which things may be compared or assessed, often used in performance analysis.

Evaluate Performance

The process of assessing the efficiency, effectiveness, and productivity of individuals, groups, or systems.

Resource Driver

A factor that influences the consumption of resources in the production of goods or services, used for more accurate allocation of costs in activity-based costing.