A Forecast of Labor Demand Is

question 20

Multiple Choice

A forecast of labor demand is:

• A)Based on an assessment of the availability of individuals in the labor force who are potential recruits of the firm.
• B)Proceeded by an inventory of individuals and jobs currently available within the firm
• C)Derived from a projection of how business/industry needs will affect human resources
• D)Inclusive of a forecast of resource availability both internal and externally available
• E)Considered one of the more trivial aspects of human resource planning

Identify examples of black market transactions resulting from price controls.

Assess the implications of price controls on consumer and producer surplus.

Understand specific inefficiencies caused by binding price ceilings and floors, like persistent shortages and surpluses.

Identify the conditions under which price controls (ceilings and floors) are considered binding.