The Credentials Required for Entry into a Profession Are Highly

question 1

Multiple Choice

The credentials required for entry into a profession are highly regulated, a cap on the number of new professionals is maintained, competition is reduced and earning and demand for services is kept high. In these cases, what do professions act as?

• A) codetermination councils
• B) internal labour markets
• C) labour market shelters
• D) quality circles

---

Definitions:

Par Value

The nominal or face value of a stock or bond, as stated by the issuer.

Fair Value

An estimate of the market value of an asset or liability, based on current conditions and agreed upon by both buyer and seller.

Goodwill

Goodwill is an intangible asset that arises when a company acquires another company for a premium value, representing elements such as brand reputation, customer relations, and intellectual property.

Acquisition

Gaining control over a different corporation through the acquisition or trade of shares.