_____ Is the Process of Developing the Ability to Perform

question 48

Multiple Choice

_____ is the process of developing the ability to perform both present and future jobs.

• A) Sensitization
• B) Retention
• C) Development
• D) Orientation

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Definitions:

Government Intervention

The involvement of the government in the market, aiming to alter the allocation of resources and distribution of goods and services.

Efficient Outcome

An economic situation in which all resources are allocated in the most effective way possible, maximizing potential benefit.

Negative Externality

A negative effect or cost suffered by a third party due to an economic transaction they were not involved in.

Socially Optimal Price

The price of a good or service that reflects the true cost to society, accounting for externalities and ensuring allocative efficiency.