Geert Hofstede Worked for IBM in 1960s and Developed a ______

question 41

Multiple Choice

Geert Hofstede worked for IBM in 1960s and developed a ______.

• A) benefits plan
• B) employee relations plan
• C) code of conduct
• D) model of national culture

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Definitions:

Labor Supply Curve

A graphical representation showing the relationship between the wage rate and the quantity of labor that workers are willing to supply.

Substitution Effect

The change in consumption patterns due to a change in relative prices, leading consumers to replace more expensive items with cheaper alternatives.

Income Effect

The change in an individual's or economy's income and how that change will affect the quantity demanded of a good or service.

Substitution Effect

The change in consumption patterns due to a change in the relative prices of goods, making consumers substitute one good for another.