A Change in Labor Demand Will Result from a Change

question 177

True/False

A change in labor demand will result from a change in the demand for the final product, a change in technology, and a change in the price of the labor.

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Definitions:

HR Forecasting

The process of predicting an organization's future human resources needs based on its business objectives, current workforce, and external labor market trends.

Specialized Jobs

Positions that require a specific set of skills, knowledge, or expertise, often associated with professional or technical fields.

Business Challenges

Difficulties, obstacles, or uncertainties that an organization faces in its effort to achieve its goals or maintain competitive advantage.

Human Capital Requirements

The skills, knowledge, and abilities that employees need to possess to fulfill their roles effectively within an organization.