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If Renae, Manager at Leak Free Roofing, Wanted to Develop

question 81

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If Renae, manager at Leak Free Roofing, wanted to develop a contingency plan for Leak Free, she would need to look at factors such as the cost of new equipment, the economy, and the company workers' compensation cases.


Definitions:

Minimum-wage Laws

Legislation that sets the lowest hourly wage rate that can be paid to workers, intended to protect employees from unduly low pay.

Labor Force

The total number of people employed and unemployed, actively seeking work in an economy.

Equilibrium Level

The state in which market supply and demand balance each other, resulting in stable prices and quantities.

Unemployment

The situation when people who are willing to work at prevailing wage rates cannot find jobs.

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