Examining the Need to Develop New Technologies Is Part of

question 17

Multiple Choice

Examining the need to develop new technologies is part of

• A)identifying people issues.
• B)scanning the external environment.
• C)developing the HR strategy.
• D)identifying strategic business issues.
• E)communicating the HR strategy.

---

Definitions:

Economic Profits

The difference between total revenue earned from production and the total opportunity costs of all inputs used in the production process.

Long-Run Equilibrium

A state in which economic forces such as supply and demand are balanced over the long term, with all factors of production and markets adjusting fully to any changes.

Long-Run Cost Curve

A graphical representation that shows the minimum cost at which different quantities of output can be produced in the long run, highlighting economies and diseconomies of scale.

Industry Supply Curve

A graphical representation showing the relationship between the price of a good and the total output supplied by all firms in the industry.