-Refer to Figure 4

question 38

Multiple Choice

-Refer to Figure 4.1, the increase in output from point A to B and from point B to C happens because

• A)more workers will produce more.
• B)better workers are usually hired after the earlier ones.
• C)a small number of workers cannot take as good advantage of the division of labor as a larger number.
• D)eventually workers are up against the fact that there are fixed inputs and more workers do not add as much.

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Definitions:

International Human Capital

The knowledge, skills, and abilities of employees available to an organization from a global talent pool.

Regional Human Capital

The collective skills, knowledge, and experience possessed by individuals within a specific geographical area, contributing to its economic development.

Competitive Advantage

A condition that puts a company in a superior business position.

Behavioral Competency

A set of behaviors or actions that contribute to successful performance in the workplace or a specific role.