Which of the Following Statements About Scarcity Is the Most

question 274

Multiple Choice

Which of the following statements about scarcity is the most accurate?

• A) It is a problem in both communist and socialist countries, but not in market economies.
• B) It will never be eradicated because humans develop new wants as productive capabilities improve.
• C) It is a problem only in communist countries.
• D) It does not exist in wealthy countries.

Identify the key functions of management as outlined by classical theorists.

Understand the impact of the human relations movement and labor unions on management practices.

Grasp the concept of scientific management and its influence on modern management.

Recognize the importance of efficiency and quality in operational approaches to management.

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Definitions:

Headcount

The total number of individuals working for a company, either as full-time employees or in positions equivalent to full-time employment.

Hiring Freeze

A temporary policy to cease or significantly slow down the recruitment of new employees, typically implemented to reduce costs.

Efficiency

The ratio of the output to the input of any system, indicating how well resources are utilized.

Measure

A method or standard used for quantifying attributes or performance in order to assess, compare, or track efficiency or progress.