If an Organization Cannot Find a Sufficient External Supply of Labour

question 49

Multiple Choice

If an organization cannot find a sufficient external supply of labour for certain jobs,what might it consider?

• A)changing the nature of the job
• B)retraining its employees
• C)transferring its employees
• D)redeploy its employees

---

Definitions:

Absolute Advantage

The ability of a country, individual, company or region to produce a good or service at a lower cost per unit than the cost at which any other entity produces that good or service.

Comparative Advantage

The capacity of a nation, person, business, or area to generate a product or offer a service with a smaller opportunity cost compared to its rivals.

Comparative Advantage

The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than competitors.

Alternative Goods

Products or services that can be used in place of each other, offering consumers choices based on price, preference, or availability.