When Managers Need to Determine Which Employees Are Available for Promotion

question 46

Multiple Choice

When managers need to determine which employees are available for promotion or transfer,they will most likely use ________.

• A)position replacement charts
• B)qualifications inventories
• C)personnel trend records
• D)succession plans

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Definitions:

Perfect Competitor

A market structure characterized by an infinite number of small firms, identical products, and free entry and exit, ensuring no single firm can influence market prices.

Industry-Wide Supply and Demand

The total quantity of goods and services that are available for purchase across an entire industry, alongside the total quantity that consumers are willing and able to buy within that industry.

Short-Run

A period in economics where at least one factor of production is fixed, and firms can't alter all inputs.

Long-Run

A period in economic theory during which all factors of production and costs are variable, allowing for full adjustment to changes.