Getting the Right Number of Qualified People into the Right

question 46

Multiple Choice

Getting the right number of qualified people into the right job at the right time is known as:

• A) downsizing.
• B) crowdsourcing.
• C) human resource planning.
• D) enterprise resource planning.

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Definitions:

Short-Run Supply

The supply of goods that occurs within a timeframe where at least one factor of production is fixed.

Perfectly Competitive

A market structure characterized by a large number of small firms, identical products, and ease of entry and exit.

MC Curve

The graph that shows the relationship between the marginal cost of producing each additional unit and the quantity produced.

Total Profit

The difference between total revenue and total costs, representing the overall earning performance of a business.