Regarding Employment Contracts,______

question 44

Multiple Choice

Regarding employment contracts,______.

• A)both written and oral contracts are enforceable
• B)their provisions must meet or exceed employment standards minima
• C)must include consideration to be enforceable
• D)all of the above are correct

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Definitions:

Consumer's Income

The total amount of income a consumer has available to spend on goods and services.

Utility

The satisfaction or benefit derived from consuming goods or services.

Budget Line

A graphical representation of all possible combinations of two goods that a consumer can afford given their income and the prices of the goods.

Capital

Economic resources used in the production of goods and services, such as machinery, buildings, or tools.