In the Context of Human Resources Management, the Planning Stage

question 42

Multiple Choice

In the context of human resources management, the planning stage involves:

• A) ensuring the availability of the right number and types of people.
• B) recruitment of qualified individuals.
• C) training of hired individuals.
• D) determining the pay scales of employees.
• E) evaluating the results of implemented programs.

---

Definitions:

Production Function

A mathematical framework defining the association between the resources used in production and the output generated.

Factor Prices

The prices paid for the use of factors of production, such as labor, capital, and land, in the production process.

Output Cost

The total expenses incurred in the process of producing goods or services, including both fixed and variable costs.

Long-Run Total Cost

The aggregate cost of production when all factors of production, including capital and labor, are variable in the long term.