A Difficult Part of Human Resources Planning Is Conducting Demand

question 123

Multiple Choice

A difficult part of human resources planning is conducting demand forecasts, which

• A)determine how many and what type of people are needed.
• B)analyze how unemployment rates affect sales.
• C)survey the external labor supply.
• D)detail the job specifications of existing employees.
• E)project future developments in labor union policy.

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Definitions:

Contribution Margin Ratio

The percentage of sales revenue that exceeds variable costs and contributes to covering fixed costs and generating profit.

Target Monthly Income

Target monthly income is the specific amount of income an individual or business aims to earn within a month to meet budgeting goals or financial obligations.

Fixed Costs

Expenses that do not change with the level of production or sales activities, such as rent, salaries, and insurance.

Normal Operating Range

The range of operational activity levels within which a business or machine can efficiently and effectively operate.