A Human Resources Manager Is Considering Changing Her Company's Vacation

question 110

Multiple Choice

A human resources manager is considering changing her company's vacation policy. Before she makes a proposal to the senior executive team, she researches the vacation policies of other leading companies in her industry. This is an example of

• A)benchmarking.
• B)demographics.
• C)inputs.
• D)buffering.
• E)smoothing.

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Definitions:

Profit Earn

The financial gain realized when the amount of revenue gained exceeds the expenses, costs, and taxes needed to sustain the operation.

Price Discriminating Monopolist

A monopolist who charges different prices to different consumers or groups of consumers for the same product or service, based on their willingness to pay.

Economic Profit

The difference between a firm's total revenue and its opportunity costs, including both explicit and implicit costs.

Output Produced

The total amount of goods or services produced by a firm, sector, or economy within a specific time period.