The Supply Curve of a Human Resource Will Be More

question 118

Multiple Choice

The supply curve of a human resource will be more elastic the

• A) easier it is to obtain the skill and knowledge necessary to provide the resource.
• B) more elastic the demand for the product.
• C) more inelastic the demand for the product.
• D) higher the skill level necessary to perform the job.

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Definitions:

Core Competencies

The unique strengths and capabilities that allow an organization to achieve competitive advantage in its industry.

Business Knowledge

Understanding and insight related to the operational, financial, and strategic aspects of running a business.

Job Security

The probability that an individual will retain their job without the risk of becoming unemployed.

Succession Plans

Preparatory steps taken by an organization to ensure employees are recruited, developed, and maintained to fill each key role within the company over time.