Which Term Refers to a Situation Where an Employer Places

question 27

Multiple Choice

Which term refers to a situation where an employer places an unfit or unqualified person in an employment situation that puts others at an unreasonable risk of harm

• A)a hiring liability
• B)unauthorized hiring
• C)negligent hiring
• D)pre-hire favouritism

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Definitions:

Perfectly Competitive

A market structure characterized by a large number of small firms, homogeneous products, and free entry and exit, leading to price taking behavior.

Labor Market

A marketplace or environment where workers seek employment and employers seek to hire workers, based on wage rates, demand, and supply of labor.

Economic Rent

A payment to a factor of production (such as land, labor, or capital) in excess of what is necessary to keep that factor in its current use.

Equilibrium Wage

A market-determined wage rate where the intentions of workers and employers align, leading to an agreed-upon employment level.