As the Price Paid to a Resource Increases

question 92

Multiple Choice

As the price paid to a resource increases,

• A) the supply of that resource will increase in the resource market.
• B) the supply of that resource will decrease in the resource market.
• C) resources will shift from other resource markets to this one.
• D) resources will shift from this resource market to others.
• E) resource usage will be unaffected.

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Definitions:

Internal And External Fit

Refers to the alignment between an organization's internal practices and strategies with the external market and environmental demands.

HR Strategies

Methods and plans designed to achieve effective management of an organization's human resources, aligning workforce development with business objectives.

Competitive Environment

The dynamic external context in which businesses compete for customers, characterized by the presence of rival firms, demand conditions, and market forces.

Environmental Scanning

The process of systematically gathering information about the external environment to identify trends, opportunities, and threats that could impact an organization.