Search results
Results From The WOW.Com Content Network
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] Similar terms include manpower, labor, labor-power, or personnel. The Human Resources department (HR department ...
Human capital has a substantial impact on individual earnings. [2] Research indicates that human capital investments have high economic returns throughout childhood and young adulthood. [2] [3] Companies can invest in human capital; for example, through education and training, improving levels of quality and production. [4]
In economics, labor or human resources refers to the human work in the production of goods and rendering of services. Human resources can be defined in terms of skills, energy, talent, abilities, or knowledge. [4] In a project management context, human resources are those employees responsible for undertaking the activities defined in the ...
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.
e. Labour economics, or labor economics, seeks to understand the functioning and dynamics of the markets for wage labour. Labour is a commodity that is supplied by labourers, usually in exchange for a wage paid by demanding firms. [1][2] Because these labourers exist as parts of a social, institutional, or political system, labour economics ...
The utilized amounts of the various inputs determine the quantity of output according to the relationship called the production function. There are four basic resources or factors of production: land, labour, capital and entrepreneur (or enterprise). [1] The factors are also frequently labeled " producer goods or services " to distinguish them ...
In his Essay on the Nature and Significance of Economic Science, he proposed a definition of economics as a study of human behaviour, subject to and constrained by scarcity, [d] which forces people to choose, allocate scarce resources to competing ends, and economise (seeking the greatest welfare while avoiding the wasting of scarce resources ...
In economics, a common-pool resource (CPR) is a type of good consisting of a natural or human -made resource system (e.g. an irrigation system or fishing grounds), whose size or characteristics makes it costly, but not impossible, to exclude potential beneficiaries from obtaining benefits from its use. Unlike pure public goods, common pool ...