To Function Smoothly and Properly, a Market Economy Requires Three

question 93

Short Answer

To function smoothly and properly, a market economy requires three things: free choice, ________, and price flexibility.

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Definitions:

Forecast Human Capital

The process of predicting the future needs for and supply of workers, based on business and economic trends.

Business Success

The achievement of desired financial and operational goals within a business, often measured by profitability, growth, and market share.

Human Resources Supply

The availability of potential employees possessing the necessary skills and qualifications to meet an organization's labor demands.

External Agencies

Organizations or bodies outside of a company that provide specialized services, such as recruitment, marketing, or legal assistance.