Use a Graph to Demonstrate the Circumstances That Would Prevail

question 35

Essay

Use a graph to demonstrate the circumstances that would prevail in a competitive market where firms are earning economic profits. Can this scenario be maintained in the long run? Explain your answer.

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Definitions:

Strategic International HR Planning

The process of designing and implementing plans to acquire, develop, and retain a workforce that can effectively achieve global business objectives.

Multinational Enterprises

Companies that own or control production or service facilities in one or more countries other than their home country.

Human Resource Management

The effective management of people in an organization to drive better performance and competitive advantage.

Culturally Sensitive

An approach that is aware of and respectful towards the differing cultural beliefs, practices, and needs of individuals.