Absolute Advantage Is Found by Comparing Different Producers

question 27

Multiple Choice

Absolute advantage is found by comparing different producers'

• A)opportunity costs.
• B)payments to land, labor, and capital.
• C)input requirements per unit of output.
• D)locational and logistical circumstances.

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Definitions:

Recruitment Process

The entire process of identifying, attracting, screening, selecting, and hiring the best candidates for an organization.

Job Analysis Process

A systematic examination of the tasks, responsibilities, and qualifications needed for a specific job, used for recruitment and performance evaluation.

Realistic Job Preview

A recruitment tool that provides potential applicants with a true representation of the responsibilities and conditions of a job.

Indexation

A method of estimating future employment needs by matching employment growth with a selected index, such as the ratio of production employees to sales.