A Business That Is More Dependent on the Services of People

question 58

Multiple Choice

A business that is more dependent on the services of people than on money and equipment is known as ______.

• A) a labor-intensive business
• B) a capital-intensive business
• C) a service-intensive business
• D) an asset-intensive business

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Definitions:

Procedures

Set methods or steps followed to complete certain tasks or operations within an organization or process.

On-the-job Training

Hands-on training provided to employees while they perform their regular work tasks.

Current Knowledge

The latest information, understanding, and insights available in a particular field or on a specific subject.

Compensation

Payment or benefits provided in exchange for services rendered or as reparation for loss or suffering.