What Are the Main Steps Involved in the Training Process

question 34

Essay

What are the main steps involved in the training process? What are two methods used to assess employee training needs?

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Definitions:

Deadweight Loss

The loss of economic efficiency when the equilibrium outcome is not achievable or not achieved.

Excise Tax

A tax directly levied on certain goods, such as alcohol and tobacco, by a government entity.

Transactions

The process of exchanging goods, services, or financial instruments between parties.

Demand Curve

The demand curve is a graphical representation showing how the quantity demanded of a good or service varies with its price, typically sloping downward from left to right.