IMIN%243.O Completed 15 out of 20Submit AllQuestion 7 of 20Suppose that employment processes change so that more human capital is required for a given task. Theəsoddngfor humancapital will shift right, and the rate of return willO demand; increasesupply; decreaseO demand; decreaseO supply; increaseShow all5:20 PMsearch78°FENG12/9/2021insprt scdeleteend61144114 04米backspacelock4.homeenter1 shiftend1413

Demand and Supply: Demand and supply, in political economy, is the link between the amount of an artifact that producers want to sell at numerous costs and therefore the quantity that buyers want to shop for. It's the most common model of worth determination utilized in theory. The worth of an artifact is decided by the interaction of providing and demand in an exceedingly market. The ensuing worth is cited because the equilibrium represents an agreement between producers and shoppers of the nice. In equilibrium, the amount of an honest provided by producers equals the amount demanded by shoppers. The economic value of a worker's expertise and abilities is named human capital. Education, training, intellect, skills, health, and alternative qualities valued by employers, like loyalty and promptness, area unit are all samples of human capital. As a result, it's associated intangible or characteristic that doesn't (and cannot) seem on a company's record. Human capital is assumed to spice up productivity and consequently profits. The more a firm invests in its personnel, the higher its prospects of productivity and success increase. Firms modify their commercial and economic operations in a market, causing the demand for labor or human capital to fluctuate with the changing environment. Due to changes in the employment process, organizations now demand more human capital. The demand for labor/human capital will rise as a result of this development, shifting the curve to the right. It aids in obtaining larger results from these activities. When employment processes require additional human capital for a certain activity, human capital demand will move right, and the rate of return will rise.Hence, the right answer is option (a), and (b), (c), and (d) are wrong.

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for human Suppose that employment processes change so that more human capital is required for a given task. The capital will shift right, and the rate of return will demand; increase supply; decrease demand; decrease O supply; increase

for human Suppose that employment processes change so that more human capital is required for a given task. The capital will shift right, and the rate of return will demand; increase supply; decrease demand; decrease O supply; increase

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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