Human Resource Management Practice Quiz

Differential wage rate means offering a higher rate of wages to employees who complete work above the standard quantity and a lower rate of wages to those who perform below the standard fixed.

Staffing refers to the process of attracting, recruiting, selecting, placing, appraising, remunerating, developing, and retaining the best workforce.

Digital cash is a form of electronic currency that exists only in cyberspace and has no physical properties. It can be used as real currency in an electronic format.

<p>A consumer is any person who buys and uses goods, or hires services for a certain consideration which has been paid or promised to be paid in the future.</p> Signup and view all the answers

<p>A market governed by statutory or legal provisions of the country, such as Stock exchange or Foreign exchange, is called a regulated market.</p> Signup and view all the answers

<p>Differential wage rate = Offering higher/lower wages based on performance Staffing = Process of managing workforce from recruitment to retention Digital cash = Electronic currency existing only in cyberspace Consumer = Person who buys goods or hires services for consideration</p> Signup and view all the answers

<p>Regulated market = Governed by statutory or legal provisions Unregulated market = Not governed by statutory or legal provisions Stock exchange = Example of a regulated market Foreign exchange = Example of a regulated market</p> Signup and view all the answers

<p>Q. 1. (A) = Question 1 Part A Q. 1. (B) = Question 1 Part B A = Option A D = Option D</p> Signup and view all the answers

<p>1 = D 2 = T 3 = D 4 = A 5 = M</p> Signup and view all the answers

<p>Recruitment = Process of attracting and selecting employees Placing = Assigning employees to suitable positions Appraising = Assessing employee performance Remunerating = Compensating employees for their work</p> Signup and view all the answers