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Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
The everyday usage of the word unemployed is usually broad enough to include disguised unemployment, and may include people with no intention of finding a job. For example, a dictionary definition is: "not engaged in a gainful occupation", [7] which is broader than the economic definition.
For example, it is usually unnecessary to analyze jobs of 200 assembly workers when a sample of 10 jobs will be sufficient. Actually analyze the job by collecting data on job activities, necessary employee behaviors and actions, working conditions, and human traits and abilities required to perform the job.
In the definition above, the term "job" involves one's current position, one's work or one's occupation, and one's employer as its entity. However, one's attitude towards his/her work does not necessarily have to be equal with one's attitudes towards his/her employer, and these two factors often diverge. [4]
Human resources (HR) is the set of people who make up the workforce of an organization, business sector, industry, or economy. [1] [2] A narrower concept is human capital, the knowledge and skills which the individuals command. [3]
Work design (also referred to as job design or task design) is an area of research and practice within industrial and organizational psychology, and is concerned with the "content and organization of one's work tasks, activities, relationships, and responsibilities" (p. 662). [1]
Personnel economics has been defined as "the application of economic and mathematical approaches and econometric and statistical methods to traditional questions in human resources management". [1] It is an area of applied micro labor economics , but there are a few key distinctions.
Job security is an important factor to determine whether employees feel happiness at work. Different types of jobs have different levels of job security: in some situations, a position is expected to be offered for a long time, whereas in other jobs an employee may be forced to resign his/ her job.