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The figure given below shows the income-leisure trade off of an individual.Figure 16.5
AB and AC: Income constraints of the individual
I1, I2, and I3 curves show the income leisure choices of the individual.
-Which of the following can result in occupational crowding?
Human Resource Planning
The strategic process organizations use to forecast their future human resource needs and develop plans to ensure the right number and kind of people are available when needed.
Labor Surplus
A situation where the supply of labor exceeds the demand, often leading to unemployment or lower wages.
Financial Losses
Negative financial outcomes resulting from business operations, investments, or other financial activities, where expenses exceed revenues.
Transitional Matrix
A mathematical tool used in Markov chain analysis, representing the probabilities of transitioning from one state to another in a dynamic system.
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