The Amount of a Product or Service That Is Available

question 98

Multiple Choice

The amount of a product or service that is available for purchase at any given time is called ________.

• A)commodity
• B)surplus
• C)supply
• D)demand

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Definitions:

Ratio Analysis

A quantitative method of projecting HR demand by analyzing the historical relationship between an operational index and the number of employees required.

Operational Index

A quantifiable measure used to assess, compare, and track the efficiency or performance of a business's operations over time.

Estimating HR Demand

The process of forecasting the future needs for human resources in an organization based on operational requirements and strategic goals.

Historical Organizational Indices

Measurements or indicators derived from an organization's past performance data to guide decision-making.