Economists Point Out That Scarcity Confronts

question 163

Multiple Choice

Economists point out that scarcity confronts

• A) neither the poor nor the rich.
• B) the poor but not the rich.
• C) the rich but not the poor.
• D) both the poor and the rich.

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Definitions:

HR

Stands for Human Resources, a department in organizations concerned with the management of people within the company, focusing on policies, systems, and practices.

Scientific Management

A theory of management that analyzes and synthesizes workflows to improve economic efficiency, especially labor productivity.

Frederick W. Taylor

Regarded as the father of scientific management, his work focused on improving industrial efficiency through the study of workflows and worker productivity.

Henry L. Gantt

An American mechanical engineer and management consultant who developed the Gantt chart, a popular project management tool.