In the Markets for the Factors of Production in the Circular-Flow

question 214

True/False

In the markets for the factors of production in the circular-flow diagram, households are buyers and firms are sellers.

Distinguish between win-lose, lose-lose, and win-win conflict resolution outcomes.

Understand the role of negotiation in conflict management.

Know the importance of BATNA in negotiation.

Recognize the potential for non-rational escalation in conflicts.

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Definitions:

Career Management

The ongoing process of setting personal career objectives and planning strategies to achieve them.

Performance Management

A strategic approach to ensuring the efficiency and effectiveness of an organization's workforce through setting goals, evaluating progress, and improving productivity.

Disparate Impact

Employment practices that adversely affect one group of people of a protected characteristic more than another, even though the intentions of the employer may not be discriminatory.

Selection Technique

Methods or processes utilized by organizations to evaluate and choose the most suitable candidates for a job.