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SPMT 262 Exam 1 Questions and Answers 100% Pass £10.43
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Exam (elaborations)

SPMT 262 Exam 1 Questions and Answers 100% Pass

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  • Module
  • SPMT 262
  • Institution
  • SPMT 262

SPMT 262 Exam 1 Questions and Answers 100% Pass Human Capital - ANSWER -- The employees of an organization - The economic value that comes from things like the worker's, experiences, skills knowledge and abilities Social Captital - ANSWER -A set of shared values that allows individuals to work ...

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  • December 17, 2024
  • 10
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • SPMT 262
  • SPMT 262
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SPMT 262 Exam 1 Questions and
Answers 100% Pass

Human Capital - ANSWER ✔✔-- The employees of an organization


- The economic value that comes from things like the worker's, experiences, skills knowledge and abilities


Social Captital - ANSWER ✔✔-A set of shared values that allows individuals to work together in a group

to effectively achieve a common purpose


Human Capital is an? - ANSWER ✔✔-Intangible assent, unlike tangible assets like. building and

equipment. However, both tangible and intangible assets have economic value


Human capital assets that bring economic value - ANSWER ✔✔-- The employees physical and mental

health


- Persons values and beliefs


- Work ethic


- Education


Human Capital Theory - ANSWER ✔✔-Investment in individuals in the form of training, education, and

well being will lead to future positive returns


ESG company - ANSWER ✔✔-Environmental, Social, and Corporate Governance refers to the three

central factors in measuring the sustainability and societal impact of an investment in a company or

business




Created by ©EmilyCharlene 2025. All rights reserved.

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Neoclassical Economics - ANSWER ✔✔-Argue that the consumers perception of a products value is the

driving factor in its price. Supply and Demand determines value


- They call the difference between actual production costs and retail price the economic surplus


Classical Economics - ANSWER ✔✔-Assume that the most important factor in a products price is its cost

of production. Cost determines value


Physical Capital - ANSWER ✔✔-Man-made goods that assist in the production process. Cash, real estate,

equipment, and inventory theory are examples of physical capital


Knowledge Management process - ANSWER ✔✔-- Information: relates to description, definition, or

perspective


- Knowledge: compromises strategy, practice, method, or approach


- Wisdom: embodies principle, Insight, moral, or archetype


Explicit Knowledge - ANSWER ✔✔-Codified knowledge found in documents, databases, etc.


Tacit Knowledge - ANSWER ✔✔-Intuitive knowledge and know-how, which is rooted in context,

experience, practice and values


Product Function - ANSWER ✔✔-Y = y(K,L)




L- persons hours, education training


K- Units of capital, physical capital


Y- Outputs, productivity


Marginal Productivity - ANSWER ✔✔-Refers to the additional amount produced when you add one

additional unit of a particular factor, such as an additional man hour of labor



Created by ©EmilyCharlene 2025. All rights reserved.

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