Which One of the Following Statements Best Describes the Ultimate

question 7

Multiple Choice

Which one of the following statements best describes the ultimate purpose of recruitment?

• A)Recruitment's intent is to increase the productivity of employees by influencing their behavior.
• B)Recruitment's intent is to furnish feedback to organization members about how they can become more productive and useful to the organization in its quest for quality.
• C)Recruitment's intent is to eliminate barriers and increase opportunities for the utilization of underutilized and/or disadvantaged individuals.
• D)Recruitment's intent is to narrow a large field of prospective employees to a relatively small group of individuals from which someone eventually will be hired.
• E)Recruitment's intent is to refine work methods,reduce production costs,and increase the level of organizational diversity

Understand and apply the concept of Marginal Revenue Product of Land, Labor, and Capital to make hiring decisions.

Analyze how changes in wage rate affect the quantity of labor hired by a firm.

Differentiate between economic scenarios based on theoretical frameworks to make labor market decisions.

Calculate and interpret the implications of changes in factor prices on the demand for labor, land, and capital.

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Definitions:

Variable Manufacturing Cost

A cost that varies with the level of output production which includes direct materials, direct labor, and variable manufacturing overhead.

Fixed Costs

Costs that remain constant in total regardless of changes in the level of production or sales volume.

Overhead Allocation

The process of distributing indirect costs to products, services, or departments based on relevant allocation bases.

Cost-Based Pricing

A strategy for setting prices where a specific additional amount is added to the product's unit cost to determine the sale price.