Table 3-2 -Refer to Table 3-2

question 92

Multiple Choice

Table 3-2
$\begin{array}{|c|c|c|c|c|}\hline&\text { Labour hours needed to produce one unit of: }&&\text { Amount produced in } 60 \text { hours: }\\\hline & \text { Butter (kg) } & \text { Butter (kg } & \text { Rice (kg) } & \text { Rice (kg) } \\\hline \text { Lee } & 6 & 10 & 15 & 4 \\\hline \text { John } & 3 & 20 & 15 & 4\\\hline\end{array}$
-Refer to Table 3-2.For Lee the opportunity cost of 1 kg of rice is:

• A)4/3 kg of butter
• B)3/4 kg of butter
• C)2/3 kg of butter
• D)3/2 kg of butter

Identify the primary uses of human resources management systems in organizations.

Acknowledge the steps involved in implementing a compensation system.

Comprehend the importance and components of a compensation budget.

Recognize the importance of evaluating employee attitudes towards new compensation systems.

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Definitions:

Dental Floss

A thin thread used to remove food and dental plaque from between teeth in areas a toothbrush is unable to reach.

Price Elasticity

Refers to the responsiveness of the quantity demanded or supplied of a good or service to a change in its price.

Quantity Demanded

The full quantity of a good or service that consumers are inclined and financially capable of purchasing at a designated price.

Price Elasticity

An indicator for the degree to which the supply or demand level of a good adjusts following a change in its price.