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Economics. International economics is concerned with the effects upon economic activity from international differences in productive resources and consumer preferences and the international institutions that affect them. It seeks to explain the patterns and consequences of transactions and interactions between the inhabitants of different ...
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]
International business refers to the trade of Goods and service goods, services, technology, capital and/or knowledge across national borders and at a global or transnational scale. It involves cross-border transactions of goods and services between two or more countries. Transactions of economic resources include capital, skills, and people ...
Economics. 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.
t. e. Human resource management ( HRM or HR) is the strategic and coherent approach to the effective and efficient management of people in a company or organization such that they help their business gain a competitive advantage. It is designed to maximize employee performance in service of an employer's strategic objectives.
There are two fundamental theorems of welfare economics. The first states that in economic equilibrium, a set of complete markets, with complete information, and in perfect competition, will be Pareto optimal (in the sense that no further exchange would make one person better off without making another worse off).
An economic model in international trade that illustrates a situation where a government can subsidize domestic firms to help them in their competition against foreign producers and in doing so enhances national welfare. break-even. Also called the break-even point (BEP). The point at which total cost and total revenue are equal, i.e. "even".
Workforce nationalization is a government initiative that can be described as the recruitment and employee development to encourage or often require the employment of native-born population in certain jobs or industry sectors, thus reducing a country‘s dependency on an expatriate workforce. [1] These efforts have been defined as a multi-level ...