Doreen Is a Marketing Instructor at the Branch Office of a Local

question 82

Multiple Choice

Doreen is a marketing instructor at the branch office of a local college. When she cannot teach one of her evening classes, she hires her friend Patrick to fill in for her. In this case, Patrick is a(n) ________.

• A)contingent worker
• B)independent contractor
• C)consultant
• D)flextime worker

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Definitions:

Price Level

A general measure of current prices for every type of good or service created in the economy.

Real Wage

The purchasing power of an individual's earnings, adjusted for inflation, reflecting the actual goods and services that wages can buy.

Monopsonist

A market condition where there is only one buyer for a product or service, giving that buyer significant control over the market.

MRP

Stands for Material Requirements Planning, a system used for production planning, scheduling, and inventory control.