Ms Krisak Studies the Internal Audit to Determine the Availability

question 22

Multiple Choice

Ms. Krisak studies the internal audit to determine the availability or lack of critical ________ and the level of ________.

• A) capital; skills
• B) resources; capabilities
• C) financial resources; management
• D) skills; resources.
• E) None of the answer choices is correct.

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Definitions:

Labor Demand

The overall quantity of workers whom employers are ready and able to employ at a specified pay rate within a given period.

Marginal Revenue Product

The additional revenue generated from employing one more unit of a resource, considering all other factors constant.

Purely Competitive

A market structure characterized by many buyers and sellers, none of whom can influence market prices, with free entry and exit from the market.

Product Price

The amount of money required to purchase a good or service, determined by factors such as cost of production, market demand, and competition.