In the Specific Factors Model, a 5% Increase in the Price

question 48

Multiple Choice

In the specific factors model, a 5% increase in the price of food accompanied by a 5% increase in the price of cloth will cause wages to ________, the production of cloth to ________, and the production of food to ________.

• A) increase by more then 5%; increase; remain unchanged
• B) increase by 5%; remain unchanged; remain unchanged
• C) remain constant; decrease; decrease
• D) remain constant; increase; increase
• E) increase by less then 5%; decrease; increase

Comprehend the impact of globalization on management practices and human resource policies.

Recognize the evolution of factories and mass production, including their effects on workers and management systems.

Identify the characteristics and benefits of a virtual workforce.

Understand the functions and benefits of a Human Resource Information System (HRIS).

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Definitions:

Documentation

Written or electronic records that provide evidence of procedures, transactions, or activities.

Incorrect Medication

The act of prescribing, dispensing, or administering the wrong medication or dosage, leading to potential harm, adverse effects, or lack of intended therapeutic benefit.

Follow-Up

The process of maintaining contact and checking the status of a situation or individual after an initial interaction or event.

Patient Care

The services provided to patients by health professionals to promote, maintain, or restore health.