Which of the Following Best Defines the Term HR Analytics

question 78

Multiple Choice

Which of the following best defines the term HR analytics?

• A) An evidence-based approach to making HR decisions on the basis of quantitative tools and models
• B) An assumption-based approach to making HR decisions on the basis of quantitative tools and models
• C) An evidence-based approach to making HR decisions on the basis of qualitative tools and models
• D) An assumption-based approach to making HR decisions on the basis of qualitative tools and models

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Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, leading to market balance.

Producer Surplus

The difference between what producers are willing to accept for a good or service versus what they actually receive, often seen as a measure of producer welfare.

Supply Shift

A movement of the supply curve to the left or right, indicating a change in the quantity supplied at each price, usually in response to a change in determinants other than price.

Total Surplus

The sum of consumer and producer surplus, representing the total net benefit to society from the production and consumption of goods or services.