Society Has Attached a Special Meaning to the Term Professional

question 47

Multiple Choice

Society has attached a special meaning to the term professional.A professional is

• A)someone who has passed a qualifying exam to enter the job market.
• B)any person who receives pay for the services performed.
• C)a person who is expected to conduct himself or herself at a higher level than the requirements of society's laws or regulations.
• D)someone who has both an education in the trade and on-the-job experience received under an experienced supervisor.

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Definitions:

Marginal Cost

The cost related to creating an additional unit of a product or service.

Above Marginal

This is not a standard economic term and lacks a universally recognized definition. NO

Competitive Firms

Businesses that operate in markets with many sellers, where each seller has no control over the market price and must accept the market price for its products or services.

Positive Profits

A situation where a business or individual earns more money than expended, indicating financial success and sustainability.