You Are the Owner of an Area of Open Land

question 129

Multiple Choice

You are the owner of an area of open land.A group of ranchers comes to you and asks if you would be willing to let them graze their cattle on your land.You want to be helpful,so you agree.In order to prevent a tragedy of the commons and protect the health of your land,what should you do?

• A) Hold weekly meetings with the ranchers and maintain communication.
• B) Make it clear that the ranchers are in competition with one another.
• C) Emphasize that the more cattle they graze, the more money they will make.
• D) Allow the "invisible hand" of economics to balance out use of the land.

Understand the challenges sexual misconduct poses to human resource management.

Identify and describe the role of the Society for Human Resource Management (SHRM) and the certifications by Human Resource Certification Institute.

Comprehend the pathways to becoming an HR manager.

Recognize the importance of complying with legal and social obligations in human resource management.

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Definitions:

Prime Costs

The combined costs of direct materials and direct labor that are directly involved in the production of goods.

Incurred

Refers to costs or expenses that have been realized or experienced by a business as a result of its operations.

Costs

The value of resources spent in the process of producing or providing goods and services.

Cost Formula

A mathematical expression or equation used to calculate the total cost of production, taking into account fixed costs, variable costs, and output levels.