In the Circular-Flow Diagram,which of the Following Items Does Not

question 223

Multiple Choice

In the circular-flow diagram,which of the following items does not flow from households to firms?

• A)revenue
• B)land,labor,and capital
• C)factors of production
• D)profit

Differentiate between employee training and development.

Describe the involvement of supervisors and non-HR managers in HRM.

Understand the impact of pay and benefits planning and administration on an organization.

Identify the nine categories of HRM competencies for success.

---

Definitions:

Expected Pay

The anticipated financial return or compensation a person expects to receive from a job, investment, or other economic activity.

Probability

A measure of the likelihood that an event will occur, expressed as a number between 0 and 1.

Hourly Rate

The amount of money paid for one hour of work.

Expected Value

The predicted value of a variable, calculated as the sum of all possible values each multiplied by the probability of its occurrence.