Organizations Spend About ________ Percent of Gross Domestic Product on Insurance

question 38

Multiple Choice

Organizations spend about ________ percent of gross domestic product on insurance premiums.

• A) 2
• B) 5
• C) 10
• D) 20

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Definitions:

Foreign Countries

Nations or sovereign states other than one's own, especially when considered in terms of international relationships or business.

Outsourcing

The business strategy of hiring external firms or individuals to perform tasks, handle operations, or provide services that are traditionally done by internal staff.

HRM Function

Stands for Human Resource Management Function, encompassing a range of practices like recruiting, training, employee relations, and performance management to effectively manage an organization's workforce.

Downsizing

The process of reducing the number of employees within an organization through terminations, retirements, or divestitures as a means of reducing costs.