Four Key Customer Markets Are the Consumer, Business, Global, and ________

question 59

Multiple Choice

Four key customer markets are the consumer, business, global, and ________ market.

• A) demographic
• B) physical
• C) nonprofit
• D) product
• E) exclusive

Understand the requirements for a contract to be enforceable under the Statute of Frauds.

Distinguish between contracts that must be in writing and those that can be oral to be binding.

Acknowledge the role of digital records and electronic signatures in contract law.

Analyze the enforceability of contracts based on the intention of the parties and statutory requirements.

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Definitions:

Workforce

The collective group of individuals engaged in or available for work, either in a particular area or in a specific industry.

Downsizing

The reduction of an organization's workforce to cut costs and improve efficiency, often resulting in job losses.

Surplus Labor

Refers to the portion of labor capacity that exceeds the necessary labor for producing a desired output.

Referrals

People who apply for a vacancy because someone in the organization prompted them to do so.