Betty and Ann Live on a Desert Island

question 350

Multiple Choice

Betty and Ann live on a desert island. With a dayʹs labor, Ann can produce 6 fish or 4 coconuts; Betty can produce 3 fish or 1 coconut. Bettyʹs opportunity cost of producing 1 fish is_____________ , and she should specialize in the production of___________ .

• A) 2/3 coconut per fish; coconuts
• B) 1 coconut per fish; fish
• C) 1/3 coconut per fish; fish
• D) 4 coconuts per fish; fish

Explain the concept of supply forecasting in HR.

Understand the importance of monitoring designated groups within organizational opportunities.

Comprehend the significance of training and types of jobs in the context of HR forecasting.

Discuss HR programs to manage surpluses and shortages.

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Definitions:

Hippocampus

A major component of the brain involved in memory formation and spatial navigation, located in the medial temporal lobe.

Memory Function

The processes involved in encoding, storing, and retrieving information.

Hindsight Bias

The tendency to believe, after an event has occurred, that one would have foreseen or predicted the outcome.

Egocentric

Having or regarding the self or the individual as the center of all things.