Explanation: A â€œCareer Anchorâ€ is a combination of perceived areas of competence, motives, and values relating to professional work choices. It includes talents, motives, values and attitudes which give stability and direction to a personâ€™s career â€“ it is the â€˜motivatorâ€™ or â€˜driverâ€™ of that person. A career anchor is the one element in your self-concept that you will not give up, even in the face of difficult choices.
Explanation: ARENA refers to the part of personality, feelings and motivation of an individuals, which are known to 'self' as well as known to others.
Explanation: Since the region of personality known to others but not the self is the BLIND quadrant.
Explanation: Steady-state careers are the traditional careers, where a person after undergoing training enters an occupation, which they may stick to for their entire working life. People may choose a steady-state career because of a committment to their chosen trade or profession.
Explanation: An organization's HRM function focuses on the people side of management. It consists of practices that help the organization to deal effectively with its people during the various phases of the employment cycle, including pre-hire, staffing, and post-hire. Since the task of developing systems that deal with people, their problems and organizational dynamics falls in the role of system development and research of HRM professional.
Explanation: A job description is a document that describes the general tasks, or functions, and responsibilities of a position. It may specify the functionary to whom the position reports, specifications such as the qualifications or skills needed by the person in the job, and a salary range.
Explanation: Fair Wages are minimum wage rates for specific occupations. They must be paid by contractors doing work for governments with fair wage policies. These policies generally apply to construction, trades and sometimes cleaning and security workers, and are often tied to union wage rates.
Explanation: A job evaluation is a systematic way of determining the value/worth of a job in relation to other jobs in an organization. It tries to make a systematic comparison between jobs to assess their relative worth for the purpose of establishing a rational pay structure.
Explanation: The halo effect is a term used in marketing to explain the bias shown by customers toward certain products because of a favorable experience with other products made by the same manufacturer or maker. The halo effect is a concept driven by brand equity.
Explanation: An appraisal interview is an exchange between a manager and an employee that is designed to evaluate the employee and create a career development plan.
Explanation: Labor unrest is strike action or industrial action undertaken by labor unions, especially where labor disputes become violent.
Explanation: Since Individuals with high-esteem take more risk in their career.
Explanation: Human resource management regards training and development as a function concerned with organizational activity aimed at bettering the job performance of individuals and groups in organizational settings. Training and development can be described as "an educational process which involves the sharpening of skills, concepts, changing of attitude and gaining more knowledge to enhance the performance of employees".
Explanation: A market economy, also widely known as a "free market economy," is one in which goods are bought and sold and prices are determined by the free market, with a minimum of external government control in which individuals and private firms make the major decisions about production and consumption. So, option(1) is correct.
Explanation: A mixed economy is defined as an economic system consisting of a mixture of either markets and economic planning, public ownership and private ownership, or markets and economic interventionism. India comes under mixed economy. So, option(3) is correct.
Explanation: Since the supply of goods is less than its demand, then the quantity of goods will be short which leads to increase in price of goods in the market. So, option(2) is correct.
Explanation: Increases in demand are shown by a shift to the right in the demand curve. This could be caused by a number of factors, including a rise in income, a rise in the price of a substitute or a fall in the price of a complement.
Explanation: The market demand curve is the summation of all the individual demand curves in a given market. It shows the quantity demanded of the good by all individuals at varying price points. Since each point along the market demand curve shows the quantity of the good that consumers would be willing and able to purchase at a specific price. So, option(4) is correct.
Explanation: In the case of inferior goods income and demand are inversely related, which means that an increase in income leads to a decrease in demand and a decrease in income leads to an increase in demand. So, option(2) is correct.