Bob Has Worked for a Local Hotel for Nearly Three

question 16

Multiple Choice

Bob has worked for a local hotel for nearly three years and is interested in advancing his career in the organization. He notices one day on the bulletin board that a promotion opportunity in his work group is available, so he decides to apply for the position. What type of recruiting method was used?

• A) Referral
• B) Job posting
• C) Direct applicant
• D) College recruit
• E) Word-of-mouth recruit

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Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price.

Income Elasticity

A measure of how much the demand for a product or service changes relative to a change in consumers' income.

Total Revenue

The total income a firm receives from the sale of its goods or services before any costs or expenses are subtracted.

Least Elastic

Refers to the degree of responsiveness or sensitivity of demand or supply to changes in prices, with the least elastic being the least responsive.