The Process of Attempting to Ascertain the Supply and Demand

question 57

Multiple Choice

The process of attempting to ascertain the supply and demand for various types of human resources is called _____.

• A)goal setting
• B)downsizing
• C)program evaluations
• D)forecasting
• E)implementation

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Definitions:

Productive Capacity

The maximum output that an economy can produce without increasing inflation, given its current level of resources.

Equity

Fairness or justice in the way people are treated or the distribution of resources, often distinguished from equality by focusing on needs and outcomes.

Efficiency

The optimal use of resources to achieve the best possible outcome or output without wasting resources.

Market Economy

An economic system in which supply and demand determine the production of goods and services.