c) SELECT AVG (Balance) FROM CUSTOMER GROUP BY SalesRepNo sql commands would return the average customer balance grouped by salesrepno.
What SQL keyword is used to specify the criteria for which rows should be selected?
The condition that defines which rows are to be picked is contained in the SQL WHERE clause. Duplicate rows may appear in a SQL SELECT operation's output. Use the FROM keyword in conjunction with the DISTINCT keyword to have SQL automatically remove duplicate entries from a result.
The columns that should be listed in the query results are specified using the SQL keyword SELECT. The table(s) from which the desired data will be fetched are specified using the SQL keyword WHERE.
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Complete Question:
Based on the tables below, which of the following SQL commands would return the average customer balance grouped by SalesRepNo?
GENERAL SALES DATABASE:
SALESREP
SalesRepNo - RepName - HireDate
654 - Jones - 01/02/2005
734 - Smith - 02/03/2007
345 - Chen - 01/25/2018
434 - Johnson - 11/23/2004
CUSTOMER
CustNo - CustName - Balance - SalesRepNo
9870 - Winston - 500 - 345
8590 - Gonzales - 350 - 434
7840 - Harris - 800 - 654
4870 - Miles - 100 - 345
a) SELECT AVG (Balance)
FROM CUSTOMER
ORDER BY SalesRepNo;
b) SELECT AVG (Balance)
FROM CUSTOMER
WHERE SalesRepNo;
c) SELECT AVG (Balance)
FROM CUSTOMER
GROUP BY SalesRepNo;
d) SELECT AVG (Balance)
FROM CUSTOMER, SALESREP
WHERE SALESREP. SalesRepNo = CUSTOMER. SalesRepNo;
he unpredictability of exchange rate movements in the post-bretton woods era has lead to which two situations?
The unpredictability of exchange rate movements in the post-Bretton Woods era has lead to which two situations:
Added risk to exporting and importing.Made international business planning difficult.What transpired with exchange rates once the Bretton Woods system was destroyed?The Committee recognized three fundamental shortcomings of the Bretton Woods System: adjustment, confidence, and liquidity. The Bretton Woods parity had been a source of difficulty for the dollar for the majority of the 1960s, but this crisis signaled the end of the system.
The major currencies started to float against one another in March 1973 after an attempt to restore the fixed exchange rates was unsuccessful. The Bretton Woods system was replaced with a floating exchange rate system in 1973, and the IMF officially accepted floating rates in 1976.
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behavioral economists have discovered that people view a 2% decrease in their income without inflation as unfair but a 3% increase in their income in the presence of 5% inflation as fair. a. what are the nominal and real rates of change in their incomes?
-2% are the nominal and real rates of change in their incomes. The sum of the real interest rate and the anticipated rate of inflation is referred to as the nominal interest rate.
We should mention that the real interest rate is determined as follows based on the information provided in the question:
Inflation rate - nominal interest rate
The true interest rate in this scenario will then
be:
= 3%-5%
= -2%
Real income change is -2%.
Nominal income change = 3%
The propensity of the money illusion is what causes people to believe that the salary reduction is unfair. This simply means that one considers of money in nominal terms, which is in its far value form, rather than in terms of its purchasing power, or in real terms.
A real interest rate indicates the true return on a bond and a loan (to the lender) (to the investor). The nominal interest rate is the amount that banks, debt issuers, and investment companies advertise for loans and different types of investments.
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which section of the uniform commercial code defines course of performance as the history of dealings between the parties in the particular contract at issue?
UCC 1-303 (B) section of the uniform commercial code defines the course of performance as the history of dealings between the parties in the particular contract at issue.
A Uniform commercial code is a uniform state law adopted for all commercial transactions in the United States. Uniform commercial code ensures that the terms in business and finances will be treated uniformly in all the courts of the US. This eases the firms to enter into business contracts and relations as the contract will be treated uniformly across the US.
The course of performance refers to a sequence of conduct during transactions between the parties. The course of dealing refers to the old transactions that have taken place between the parties and established an understanding between the parties.
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q1) what is the total percentage return for an investor who purchased a stock for $8.06, received $1.46 in dividend payments, and sold the stock for $9.28? (2 points)
(End price-Beginning price + Dividends)/Beginning price = (8.57-8.06+2.76)/8.06 = 40.57% (approximately).
A company pays dividends to its stockholders to distribute profits.They get paid regularly and are one way investors get a return on their stock investments.
What are examples of dividends?
The majority of dividends paid to investors in the United States are cash dividends, which are paid in cash per share.For instance, an investor holding 100 shares would receive $20 in cash if the company paid a dividend of 20 cents per share.Dividends on stocks represent an increase in the number of shares owned by a percentage.
You only need to own shares in the company through a brokerage account or a retirement plan like an IRA to receive dividends on that stock. Cash will be deposited into your account automatically when dividends are paid.
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if the economy is shrinking, firms with low operating leverage will experience . a. higher decreases in profits than firms with high operating leverage b. similar decreases in profits as firms with high operating leverage c. smaller decreases in profits than firms with high operating leverage d. no change in profits e. none of the above
Firms with low operating leverage will experience smaller decreases in profits if the economy shrinks than firms with high operating leverage.
Leverage is an American action crime drama television series that ran on TNT from December 7, 2008 until December 25, 2012. Electric Entertainment, a production firm run by executive producer and director Dean Devlin, produced the series. Leverage features a five-person team lead by former insurance investigator Nathan Ford, who uses their expertise to carry out heists to battle corporate and political injustices perpetrated on ordinary folks.
Leverage was renewed for a fourth season on July 30, 2010. It debuted on June 26, 2011, and aired for 18 episodes, ten in the summer and eight in the winter.
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government transfer payments rise when the economy is contracting and fall when the economy is expanding. in this role, transfer payments are described as:
Government transfer payments rise when the economy is contracting and fall when the economy is expanding. In this role, transfer payments are described as automatic stabilizers.
What is Automatic Stabilizer?
Automatic stabilizers are a sort of fiscal policy intended to offset changes in a country's economic activity through the course of their regular operation without additional, timely approval by the government or policymakers.
The most well-known automatic stabilizers include progressively graduated corporate and individual income taxes, as well as transfer programs like welfare and unemployment insurance. Because they act to smooth economic cycles and are automatically initiated without further government intervention, automatic stabilizers are so named.
Governments frequently supplement automatic stabilizers in the event of severe or prolonged economic downturns with one-time or short-term stimulus measures in an effort to kick-start the economy.
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which of the following is the best example of the product development stage? a delivering multiple versions of different phones to influencers for beta testing. b ranking the concept of high-quality camera versus other potential differentiators. c research revealing that customers are limited by existing smartphone cameras. d breaking down the feasibility of such a system based on the cost of development. e the engineering of the quad-camera feature.
The engineering of the quad-camera feature is the best example of the product development stage.
Simply put, a quad-camera setup refers to a mobile phone's rear four cameras (each with four lenses). A quad-cam setup includes a main camera lens, a telephoto lens, an ultra wide angle lens, and a depth sensor. These are all made with the goal of improving photography capabilities. Having four cameras on a mobile device primarily enables you to take better pictures with a deeper depth of field. It can also deliver faster focusing, greater detail capture, a bokeh effect akin to DSLRs, and monochrome images. A quadruple-lens camera that focuses exclusively on wide-angle photography will not be the best choice if you need a little extra zoom, as opposed to a triple-lens camera that also has a telephoto lens. The number of lenses on your phone ultimately doesn't matter.
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. a toyota tundra can be purchased today for $32,350. a civil engineering firm is going to need three more trucks in 2 years because of a land development contract it just won. if the price of the truck increases exactly in accordance with an estimated inflation rate of 3.5% per year, determine how much the three trucks will cost in 2 years.
Toyota tundra can be purchased today for $32,350. an estimated inflation rate of 3.5% per year, the three trucks will cost 2 years = $103,962.
The rate of price growth over a specific time period is referred to as inflation. Inflation is frequently measured broadly, such as the general rise in prices or the rise in the cost of living in a nation. Unevenly rising prices in an inflationary environment inevitably lower some consumers' purchasing power, and this erosion of real income is the single biggest cost of inflation. With its headquarters in Toyota City, Aichi, Japan, Toyota Motor Corporation is a multinational Japanese automaker. On August 28, 1937, it was incorporated and Kiichiro Toyoda founded it. With an annual production rate of about 10 million vehicles, Toyota is one of the biggest automakers in the world.
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g which of the following statement is not correct about data and information? a. data is an essential resource, like other assets in organizations. b. data are raw facts representing a phenomenon. c. information is the result of the processing of data. d. mostly, business intelligence and analytics use data collected using questionnaires
Mostly, business intelligence and analytics use data collected using questionnaires.
A business is a enterprising organization or entity that engages in commercial activity. They may be industrial, commercial, or other types. Businesses that are for profit operate with the intention of making a profit, while those that are nonprofit focus on charitable purposes.
Analytics is the process of identifying, explaining, and sharing important patterns in data. Simply put, analytics enables us to see information and insights that we might otherwise miss.
Data analytics is the science of examining unprocessed data to draw inferences about that data. A company can increase productivity, maximize profit, or make better decisions based on data analytics to improve performance.
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marisa wants to buy 100 shares of ibm at $90 per share. her regular, full-service broker will charge her a commission of two percent. she can complete the transaction with an online broker for a fixed commission of $19. how much would she save by buying stock online?
She can execute the sale online through a brokerage for a flat commission of $19, saving her $161 in total.
What is the Commission EU law?New European legislation must be planned, prepared, and proposed by the European Commission. It has the authority to take this action voluntarily. The legislation it suggests musSuppose she purchases 200 shares of Watson at $90 each.
Briefing:Consequently, 100 units will be issued=100 x 90 = $9000
Her customary brokerage will pay But if she's doing it internet, she must pay a flat $19 commission them 2% for this purchase, according to the question, therefore
2% of 18,000 = $180
But if she's doing it internet, she must pay a flat $19 commission.
hence she saved $161.
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the parol evidence rule applies to agreements that are: multiple choice preliminary negotiations. not finalized. fully integrated. completed after a written contract.
The parol evidence rule is applicable to fully integrated agreements. It does not permit the parties to reach an oral agreement after entering into the written agreement.
Parol is a verbal term or word. Verbal evidence, such as a witness' testimony at a trial. Extraneous evidence, such as an oral agreement, or even a written agreement, that is not included in the relevant written instrument, is referred to as parol evidence in the context of contracts, deeds, wills, or other writings. The parol evidence rule is a principle that protects the integrity of written documents or agreements by barring parties from attempting to change the meaning of the document by using prior and contemporaneous oral or written declarations that are not referenced in the document. Contract terms are frequently presented, discussed, and negotiated before being incorporated in the final contract.
The parol evidence rule applies to integrated contracts and states that when parties put their agreement in writing.
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the market equilibrium is found at the: question 21 options: a) price where quantity supplied exceeds quantity demanded. b) price where quantity demanded equals quantity supplied. c) price where quantity demanded exceeds quantity supplied. d) highest price the market will bear.
The market equilibrium is found at the price where quantity supplied exceeds quantity demanded. Market pricing is the outcome of the relationship between supply and demand.
The forces of supply and demand are balanced at an equilibrium price. Prices tend to stabilise at this level unless specific supply or demand characteristics change. It is essential to comprehend the product's market equilibrium price when running a business. Controlling supply and demand is essential for reducing costs and increasing revenues. Market equilibrium frequently happens naturally. The supply and demand of a good are, in theory, balanced in a free market, leading to constant prices.
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you have started a software company and while you have started generating revenue, your expenses are still high. consequently, you want to understand better if you are going to run out of cash. the heuristic you will use to analyze your situation is:
Heuristics for representativeness are skewed judgments made in everyday life. A representativeness heuristic is the assumption that a person is a lawyer because they look like lawyers because they are dressed in a suit and tie and carry a briefcase.
How can heuristics help you get the most out of your investment?Heuristics are mental shortcuts for quick problem-solving that produce sufficient results to be useful in a short amount of time. A heuristic approach is utilized by investors and financial professionals to accelerate investment decisions and analysis.
Which three kinds of heuristics are there?Anchoring and adjustment, representativeness, and availability were the three heuristics that received the most attention. The tendency to estimate an event's likelihood based on how easily it is to recall instances of that event is known as the availability heuristic.
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How is socialism present within the American free enterprise system, give three
examples?
Answer:What is being offered by contemporary socialists are fairy tales, and we should not mistake them for the truth. These portrayals of socialism and their caricature of capitalism are inaccurate, vacuous, and utopian. Socialism takes from those who work, take risks, innovate, educate themselves, or save and gives to those who do not—or to those who have political power. A century ago, at the advent of the Russian Revolution, one could be a socialist and hope in good faith that socialism could achieve, or at least advance, its utopian aspirations. Now, socialism has a long record of dismal failure. In fact, it has been tried many dozens of times and failed each time.
Explanation:
is it true that a company in a perfect competition industry will have a perfectly elastic demand and supply?
The right response is Valid In a completely cutthroat market, merchandise are for the most part thought to be an ideal substitute for individual ventures and firms.
Every time, the demand curve is perfectly elastic. The companies raise the product's cost; As a result, there will be less overall demand.
In perfect competition, is supply perfectly elastic?The demand curve is perfectly elastic for each of the small, independent businesses that participate in a perfectly competitive market, and all goods are regarded as perfect substitutes. These businesses are price takers because there would be no demand for one company's product if it tried to raise its price.
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queen manufacturing uses 2,300 switch assemblies per week and then reorders another 2,300. the relevant carrying cost per switch assembly is $9.00 and the fixed order cost is $1,150. a. what is the current carrying cost? (do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. what is the order cost? (do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) c. what is the eoq? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Companies use the economic order quantity (EOQ) calculation to determine their ideal order size, which enables them to meet demand without overspending.
EOQ is calculated by inventory managers to reduce holding costs and excess inventory.
The economic order quantity is equal to sqrt((2 * Annual Demand * set up Cost) / (Holding Cost)) = sqrt((2 * 2300 * 52 * 1150) / 9) = 5528.512 switch. Current Carrying Cost = ((2300 / 2) * 9) = $10350. The order costs are equal to ((2300 * 52) / 2300) * 1150) = $59,800.
What is EOQ and how does it work?
The following is the formula for EOQ: Demand is equal to the square root of EOQ, or [(2 x demand x ordering cost) / carrying cost].According to EOQ's assumptions, demand remains constant. The number of units sold or the amount of inventory used annually is the demand.
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why do some consumers feel upset about the fact that businesses are collecting their personal information?
When personal data is exploited or insufficiently protected, it can lead to identity theft, financial fraud, and other issues .
What are the issues that arise from personal data collection? Exorbitant cost of data compliance. Who is in charge of ensuring that data protection laws are followedData breach riskWide personal data definition It is impossible to totally remove the risk of a data breach.The ability to gain a deeper understanding of how their customers act online, define their general demographics, and pinpoint opportunities to enhance the customer experience is perhaps the main reason why so many businesses gather consumer data.To learn more about Data breach refer,
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an informal credit arrangement with a customer for payment within 30 to 60 days after the sale is classified as a(n)
An informal credit arrangement with a customer for payment within 30 to 60 days after the sale is classified as a(n) c. account receivable
In the field of business, an account receivable can be described as the money that a customer has to pay to a company or brand from which he had made a purchase but hasn't paid for the product.
Normally, a time frame of 30-60 days is given by the brand for payment during which it is necessary to clear the required payment.
Usually, an account receivable situation arises when you purchase a product online, the product gets delivered to you and you are yet to pay for it.
Although a part of your question is missing, you might be referring to this question:
an informal credit arrangement with a customer for payment within 30 to 60 days after the sale is classified as a(n)
a. note payable
b. nontrade receivable
c. account receivable
d. prepaid receivable
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selling the same goods to different targeted groups at different prices is called: group of answer choices cost customization. cost personalization. price discrimination. cost optimization. price gouging.
Selling identical items to one-of-a-kind focused agencies at one-of-a-kind costs is called price discrimination.
What's price discrimination?Price discrimination is a promoting approach that costs clients one-of-a-kind costs for identical products or services primarily based totally on what the vendor thinks they are able to get the purchaser to agree to. In natural fee discrimination, the vendor costs every purchaser the most fee they will pay.
In greater, not unusual place varieties of fee discrimination, the vendor locations clients in agencies primarily based totally on positive attributes and costs every organization a one-of-a-kind fee.
Price discrimination is practiced primarily based totally on the vendor's notion that clients in positive agencies may be requested to pay greater or much less primarily based totally on positive demographics or on how they fee the products or services in question.
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How much more per week does a college grad earn compared to someone with some college?.
Many individuals think that attending college is the only real path to success, but this is generally untrue… Going to college does, however, significantly increase your chances of landing better-paying professions.
A neutral tone that doesn’t support any side or harbour any emotions or beliefs is referred to as being objective. Right, neutral just implies neither or. In other words, you aren’t actively playing one side right now, merely gaining some momentum on both sides of the issue. Let’s move backwards: As opposed to statements or proof based on truth, the fourth answer choice is primarily about opinion. Simply put, there are more jobs. An opinion has already been expressed in this.Someone may find number three more appealing than their topic. If that still doesn’t make sense, let me try again. The author opted to focus on the reader rather than both sides of the argument, and he also used the word “probably,” which is a conjecture. Recall that we’re not here to speculate.
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boland manufacturing prepared a 2019 budget for 120,000 units of product. actual production in 2019 was 130,000 units. to be most useful, what amounts should a performance report for this company compare?
The amounts a performance report for Boland manufacturing company should compare the actual results for 130,000 units with a new budget for 130,000 units.
What does a performance report contain?A performance report discusses the results of a task or a person's efforts. The report may include a comparison of actual results to a plan or benchmark as well as the difference between the two numbers. When there is an adverse variation in a performance report, the recipient is expected to take action.
A properly-written performance report can help in the entire decision-making process and measure the performance of your company as well as identify any areas that need to be improved. A corporation develops a performance report to describe and assess its overall success. It gives a general picture of how the company is doing.
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a data analyst wants to create a shareable report of their analysis with documentation of their process and notes explaining their code to stakeholders. what tool can they use to generate this?
For creating dynamic documents using R, there is a file format called Markdown. To save, arrange, and document code, utilise R Markdown documents.
Dynamic documents are those that include both text and a programming language's output in a format that updates the output whenever the code is run. Because the code and the results are well-documented, using dynamic documents significantly increases research transparency. The last ten years have seen terrible digital documents. In their static form, there is always a chance that version control will be lost, or even worse, the document will be saved somewhere and forgotten.
For formatting text using a plain-text editor, Markdown is a simple markup language. As a markup language that is appealing to human readers in its source code form, Markdown was developed by John Gruber and Aaron Swartz in 2004. Markdown is frequently used in documentation pages, readme files, online forums, instant messaging, blogging, and instant messaging.
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which one of these is an example of a necessary debt
Answer:
An example of unnecessary debt is when you change your clothes and don't really need on a high-interest score. Thus option C is correct.
What is unnecessary debt?
An unnecessary debt can be caused by a variety of issues such as expensive life events, having children, or moving to a new house. It may also be due to poor money management. The debt is due to those things that are not needed and hence are unnecessary.
Explanation:
during its first year, concord, inc., showed an $18 per-unit profit under absorption costing but would have reported a total profit $18,900 less under variable costing. if production exceeded sales by 700 units and an average contribution margin of 60% was maintained, what is the apparent:
the following makes the consumer price index (cpi) a less accurate measure of the cost of living:
the existence of a new goods bias in the calculation of the cpithe existence of a quality change bias in the calculation of the cpiThe Consumer Price Index (CPI) measures the monthly change in prices paid by consumers in the United States. The CPI is calculated by the Bureau of Labor Statistics (BLS) as a weighted average of prices for a basket of goods and services representative of total U.S. consumer spending.
The CPI is one of the most widely used indicators of inflation and deflation. The CPI report employs a different survey methodology, price samples, and index weights than the PPI, which measures changes in prices received by U.S. producers of goods and services.
The Consumer Price Index (CPI) is the most widely used measure of inflation, with policymakers, financial markets, businesses, and consumers closely following it. The widely quoted CPI is based on an index that covers 93% of the US population, while a related index is used to adjust federal benefits for cost-of-living adjustments. Housing rents estimate changes in shelter costs, including owner-occupied housing, which accounts for nearly one-third of the CPI.
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a fund complex currently operates a web site to provide details regarding the investment philosophy behind each of its funds and to provide general commentary on the state of the world's stock and bond markets. under finra rules, this web site is considered:
A fund complex currently operates a Web site to provide details regarding the investment philosophy behind each of its funds and to provide general commentary on the state of the world's stock and bond markets. Under FINRA rules, this Web site is considered retail communication.
There are many different types of investment philosophy, each with its own risks and rewards. Some common investments include stocks, bonds, and real estate. When deciding what to invest funds in, it's important to consider your goals and risk tolerance.
Some investments are more likely to generate a higher returns, but they also come with more risk. It's important to find a balance that meets your needs.
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the owner of barnes company established a petty cash fund amounting to $400. what is the effect on the financial statements of the entry to record this transaction? balance sheet income statement statement of cash flows assets
The establishment of petty cash fund would involve a disbenefit to petty cash and credit to cash account. Petty cash is reported under the cash account in the balance distance, thus, would have zero effect on the overall balances.
What's the purpose of petty cash?
Thus, the purpose of a petty cash fund is to give departments with ready cash for the payment of colorful small expenditures, similar as postage, trace sacrifices, parking freights, and the suchlike.
Where is petty cash recorded?Petty cash appears within the current means section of the balance distance. This is because line particulars in the balance distance are sorted in their order of liquidity. Since petty cash is largely liquid, it appears near the top of the balance distance.
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without knowing what happened later: if you were going to invest in the boston beer company ipo, what information would you use to figure out how much your max price per share would be? (3-4 sentences)
You would analyze the Boston Beer Company's financial statements to determine your maximum price per share. Potential investors can clearly understand a company's overall financial health from financial statements.
Give a brief account of financial statements.Financial statements, usually referred to as financial reports, are official records of the financial operations and status of an individual, company, or other institution. An easy-to-understand format is used to provide pertinent financial data in a systematic manner. They typically contain a management discussion and analysis and four fundamental financial statements:
A balance sheet, also known as a statement of financial position, details the assets, liabilities, and owner equity of a business at a specific point in time.An income statement, sometimes referred to as a profit and loss report (P&L report), statement of comprehensive income, or statement of revenue & expense, lists the revenue, expenses, and profits of a company. A statement of retained earnings, a statement of equity, or a statement of changes in equity provides information on the company's equity changes during a certain time period.A cash flow statement provides information on a company's investing, operating and financing operations as well as its cash flow for a specific time period.Other comprehensive income components that are not taken into account when calculating net income are included in a comprehensive income statement.To know more about, financial statements, visit :
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a few years ago, michael purchased a home for $292,000. today the home is worth $350,000. his remaining mortgage balance is $132,000. assuming michael can borrow up to 80 percent of the market value of his home, what is the maximum amount he can borrow?
The price at which a property would trade in a competition auction environment is known as its market value, or OMV. Despite the fact that these phrases have different meanings under various standards and can have variations in some situations, market value is usually used interchangeably with market price, fair value, and fair market value.
What is market value ?The cost that an asset would fetch on the open market or the assessment that the financial sector makes of a particular equity or company is known as market value, often known as OMV or "open market valuation."
The price at which a house would sell in a regular market is its market value. Sales occurring from unanticipated circumstances like a move, a relative's passing, or any other circumstance where the seller is forced to sell the home are excluded from this.
One of the main reasons market value is important is that it provides a straightforward method for determining how much an asset is worth, removing any uncertainty or confusion. A product's value is frequently seen differently by buyers and sellers in the market place.
The industry the company or asset is in, its overall profitability, how much debt it has taken on, and other factors all have an impact on market value.
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Money neutrality suggests that an increase in the money supply leads to _____ in price level and inflation and _____ in real gdp.
Money neutrality suggests that an increase in the money supply leads to an increase in price level and inflation and no change in real GDP.
In the field of business, money neutrality is a theory that describes that although an increase in revenue can lead to an increase in price level but it does not have any real effect on the GDP.
In other words, money neutrality describes that an increase in monetary value does not affect the economic equilibrium that is required for enhancing the GDP of the country.
Factors like GPD or employment etc remain unaffected by the increase in money according to the money neutrality theory in business.
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which option for avoiding a labor shortage gives speedy results and the ability to easily change to a different strategy at a later date? multiple choice technological innovation new external hires temporary employees retained transfers turnover reductions
Temporary employees for avoiding a labor shortage gives speedy results and the ability to easily change to a different strategy at a later date.
What are the popular strategies for overcoming a labour shortage ?The two strategies that are most frequently used to address labour shortages are outsourcing and hiring temporary workers. Hiring temporary and contract workers as well as outsourcing work are two of the most popular strategies for overcoming a labour shortage.
The typical organisational response to a labour shortage has been to outsource or hire temporary workers, both of which are quick and highly revocable. Industrialists were unconcerned about the lack of workers or the high cost of living. As machines required significant capital investments, they preferred using human labor.
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