More Jobs Today Are Found Through Referrals and Person-To-Person Contacts

question 106

Multiple Choice

More jobs today are found through referrals and person-to-person contacts than through any other method. Why is this?

• A)because people hired through referrals tend to demand lower salaries
• B)because using online sources to search for job candidates is completely worthless
• C)because people trust what they know and want to hire known quantities
• D)because companies like to openly advertise to get more candidates

Understand the concept and implications of learning curves in production and labor requirements.

Recognize that learning curves can change and are not permanent due to various factors like process, personnel, or product changes.

Know the difference between experience and learning curves and how they relate to each other.

Understand the mathematical approaches to calculate learning curves, including the logarithmic and arithmetic methods.

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Definitions:

Wages And Salaries

Compensation paid to employees for their labor, either on an hourly (wages) or fixed salary basis.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity levels, allowing for more accurate comparisons and planning.

Supplies Cost

The cost associated with purchasing supplies necessary for the daily operations of a business.

Flexible Budget

A budget that is flexible and adjusts according to activity level or volume changes.