An Economic Model

question 20

Multiple Choice

An economic model

• A) uses equations to understand normative economic phenomena.
• B) often omits crucial elements.
• C) simplifies reality in order to focus on crucial elements.
• D) cannot be proven wrong.

---

Definitions:

Divisional Transfers

The movement of resources, employees, or assets between divisions within the same organization.

Internal Recruitment

The process of filling vacant job positions with existing employees from within the organization.

External Recruitment

The process of filling job vacancies within an organization by hiring individuals from outside the organization.

Campus Recruitment

The process by which companies visit educational institutions to recruit students and recent graduates directly into entry-level positions.