The Concepts and Principles of OB Are Important to Managers

question 29

True/False

The concepts and principles of OB are important to managers because in every organization human being ultimately make the decision that controls how the organization will acquire and use resources.

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Definitions:

Long-Term Unemployment

Refers to individuals who have been jobless for 27 weeks or longer while actively seeking employment during that time.

Labor-Force Participation

The ratio of the working-age group that is involved in the labor market, being either in employment or actively searching for a job.

Since 1950

A phrase indicating a time frame that starts from the year 1950 to the present, often used to denote changes or developments over that period.

Comparative Advantage

The ability to produce a good at a lower opportunity cost than another producer