A Restaurant That Features a Serve-Yourself Buffet, Which Eliminates the Need

question 52

True/False

A restaurant that features a serve-yourself buffet, which eliminates the need for a full wait staff, is using disintermediation.

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Definitions:

Domestic-Born Workers

Individuals born in the country where they are working, as opposed to workers who have migrated from other countries.

Legal Immigrant

An individual who has been granted authorization to live and often work in a country other than their country of nationality, through legal channels.

Equilibrium

A state in which market supply equals market demand, such that the allocation of goods or resources is effectively balanced.

Compensating Wage Differentials

Differences in wage rates due to the non-monetary aspects of different jobs, such as risk level or working conditions.