Which of the Following Statements About the Importance of Productivity

question 93

Multiple Choice

Which of the following statements about the importance of productivity is TRUE?

• A) It is important to a firm's profitability.
• B) It is important to a firm's ability to survive.
• C) It contributes to our overall quality of life.
• D) It contributes to a country's standard of living.
• E) All of these choices

Know the role of unions and their impact on HR practices.

Acknowledge the significance of human resources in achieving organizational mission and strategies.

Recognize the process and importance of human resource planning in aligning HR strategies with organizational objectives.

Understand the recruitment process and its significance in acquiring a quality workforce.

---

Definitions:

Herfindahl Index

A measure of the concentration of market power held by the largest firms within an industry.

Antitrust Laws

Regulations designed to promote competition and prevent monopolies by restricting unfair business practices and mergers that could lead to a concentration of market power.

Market Power

The ability of a firm or group of firms to manipulate the price of goods or services in the market due to lack of competition or control over a significant portion of the market supply.

Herfindahl Indexes

Measures of market concentration and competition, calculated as the sum of the squares of the market shares of all firms in an industry.