The Process of Evaluating an Employee's Current And/or Past Performance

question 85

Multiple Choice

The process of evaluating an employee's current and/or past performance relative to his or her performance standards is called .

• A)recruitment
• B)employee selection
• C)organizational development
• D)training
• E)performance appraisal

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Definitions:

Industry Rivals

Companies within the same industry that compete with one another for market share and profitability.

Erode Producer Profits

The process by which factors such as increased competition or higher costs reduce the profits that producers can make.

Producer Surplus

The additional revenue producers earn by selling a product at a market price above their minimum acceptable price.

Price Level

The average of current prices across the entire spectrum of goods and services produced in the economy.