Scenario: Bob Baldwin As an Owner and Manager of Tricky Toys, Bob Baldwin

question 18

Multiple Choice

Scenario: Bob Baldwin
As an owner and manager of Tricky Toys, Bob Baldwin has been fascinated by all the changes occurring and transforming the workplace.Bob is concerned about the important OB trends that he can understand and take advantage of in developing and positioning his company in the marketplace.
-If Bob wants to consider deep-level diversity he would

• A)review the demographic characteristics of his workforce.
• B)consider the likelihood of long-term employment with the organization for each of his employees.
• C)observe the differences in the people who represent his workforce.
• D)look at different attitudes and expectations of his employees.
• E)both 'C' and 'D'.

Analyze the equilibrium point in labor hiring from a profit-maximization perspective.

Interpret graphs showing the relationship between labor hired and output produced, including understanding marginal product of labor.

Calculate the marginal profit given the costs and revenues associated with labor and production.

Understand the impact of technological advancements on the labor market.

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Definitions:

Disbursements

Payments made by a business or organization, typically involving the payment of cash expenditures, payroll, or other financial outflows.

Revenue

The total amount of money earned from the sale of goods and services before any expenses are subtracted.

Cash Basis

A method of accounting that records transactions when cash is received or paid out rather than when they are incurred.

Extends Credit

A financial arrangement where a lender offers a borrower the possibility to purchase goods or services now and pay for them later.