________ Is the Process of Acquiring, Training, Appraising, and Compensating

question 95

Multiple Choice

________ is the process of acquiring, training, appraising, and compensating employees, and attending to their labor relations, health and safety, and fairness concerns.

• A)Labor relations
• B)Human resource management
• C)Behavioral management
• D)Organizational health and safety management

---

Definitions:

Wage Rates

The amount of compensation individuals receive in exchange for their labor per unit of time, such as hourly or annual earnings.

Bilateral Monopoly

A market in which there is a single seller (monopoly) and a single buyer (monopsony).

Monopolist

A single seller in a market who has significant control over the price and supply of a product or service.

Monopsonist

A situation in the market where a single buyer dominates, possessing substantial control over the pricing of a product or service.