Norma Has Been Working for the Same Organization for 25

question 105

Multiple Choice

Norma has been working for the same organization for 25 years. She has worked there so long she is an invaluable resource to people across the organization; she feels an obligation to stay with this organization for the rest of her career. Norma is exhibiting

• A)continuance commitment.
• B)normative commitment.
• C)affective commitment.
• D)personal commitment.
• E)citizenship commitment.

Apply the concepts of MRP and marginal resource cost (MRC) in competitive labor markets to determine optimal employment levels.

Know how to analyze tables and graphs to make hiring decisions in purely competitive markets.

Understand the concept of elasticity of resource demand and its calculation.

Grasp the relationship between the elasticity of product and labor demand in different industries.

---

Definitions:

Machine-sewn Products

Goods that are manufactured using sewing machines, often implying mass production and consistent quality.

Wage Rate

The amount of money paid to an employee per unit of time, such as an hour or a week.

Capital

Refers to financial assets or the financial value of assets, such as cash and investments, as well as physical assets like machinery or buildings, used in the production of goods and services.

Fixed Proportions

A production scenario where inputs are used in a constant ratio, regardless of the level of output.