The Continuing Increase in the Number of Canadian Workers in the Service

question 178

True/False

The continuing increase in the number of Canadian workers in the service sector means that more and more workers are employed in low-wage positions.
Some jobs in the service sector do pay low wages,but there are actually more high-paying jobs in the service sector than in the goods-producing sector.Service jobs include high wage positions in such industries as health care,accounting,architecture,law,and telecommunications.

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Definitions:

Short Run

A period in economics during which at least one factor of production is fixed, focusing on immediate effects in production and pricing.

Long Run

A period in economics where all inputs can be adjusted, allowing for full analysis of production, pricing, and employment levels.

Profit Or Loss

The financial result of a business's operations, calculated as the difference between revenue and expenses.

Maximizing Profits

The process of making the most financial gain possible from business operations, through various strategies such as cost reduction, revenue increase, or efficiency improvements.