Which of the Following Reduces Labour Flexibility

question 18

Multiple Choice

Which of the following reduces labour flexibility?

• A) Setting up more government run job centres.
• B) Forcing firms to cut back on 'zero hours' contracts.
• C) Legislating against trade unions.
• D) Encouraging local labour agreements.

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Definitions:

Standard Costing System

A cost accounting system that assigns expected costs to products to help managers monitor and control actual costs.

Direct Materials

Raw materials that can be directly traced to the production of a specific product.

Actual Price

The real or final price at which a transaction is completed, as opposed to an estimated or listed price.

Labor Rate Variance

The difference between the actual labor costs incurred and the expected (or standard) labor costs based on predetermined rates.