Wolfgang Reithofer, a Human Resource Manager at an Austrian Brick

question 1

Multiple Choice

Wolfgang Reithofer, a human resource manager at an Austrian brick making company, gathers information about various jobs within the company and specifies the skills and knowledge needed to do each job well.Reithofer is responsible for:

• A)job analyses
• B)job management
• C)skill inventories maintenance
• D)task orientation
• E)external and internal job-task matching

Discuss the role of government intervention in correcting market failures.

Understand the difference between a centrally planned economy and a market economy.

Describe the principle of the "invisible hand" and its impact on market outcomes.

Explain the concept of externality and its significance in economics.