Unnecessary Occupational Licensing Requirements in an Industry Tend to

question 85

Multiple Choice

Unnecessary occupational licensing requirements in an industry tend to

• A) increase the supply of the product.
• B) raise the price of the product.
• C) reduce the income of the suppliers.
• D) increase the demand for the product.

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Definitions:

Differing Spheres

The concept of having separate areas or aspects of life, work, or society that have different roles, norms, or expectations.

Overt Power

The visible, explicit, and acknowledged capacity to influence others or the outcome of events.

Coercive Power

The ability to influence others' behavior through threats, punishment, or sanctions.

Employees' Participation

The involvement of employees in making decisions that affect their work and the organization.