The Term _____ Refers to the Efforts of Firms to Identify

question 25

Multiple Choice

The term _____ refers to the efforts of firms to identify the human resource applications of the key issues posed by the changing environment,in order to align their human resources with needs resulting from those issues.

• A)human resource replacement
• B)job analysis
• C)human resource implementation
• D)human resource assessment
• E)human resource planning

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Definitions:

Inelastic

Inelastic describes a situation where the demand or supply for a good or service is not significantly changed by variations in price.

Consumer Surplus

The difference between the maximum price a consumer is willing to pay for a good or service and the actual price they do pay.

Tax

A mandatory monetary contribution or different sort of tax levied on a taxpayer by a government entity to finance government expenditure and assorted public costs.

Deadweight Loss

The loss of economic efficiency that can occur when the equilibrium for a good or service is not achieved or is distorted.