In High-Performance Organizations,training Is Undertaken So That the Employees

question 85

Multiple Choice

In high-performance organizations,training is undertaken so that the employees:

• A)assume greater responsibility.
• B)earn higher wages.
• C)lower organizational costs.
• D)remain loyal to the organization.

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Definitions:

Ideal Market

A theoretical marketplace where information is freely available to all participants, products are homogeneous, and there are no transaction costs, leading to perfect competition.

Monopolist

A solo producer or seller in a market who has significant control over the pricing and availability of a product or service, with no direct competition.

Barriers To Entry

Economic or legal obstacles that prevent new competitors from easily entering an industry or area of business.

Product Substitutes

Goods or services that can be used in place of each other, where the increase in the price of one leads to an increase in demand for the other.