Choose the Statement That Is Incorrect

question 8

Multiple Choice

Choose the statement that is incorrect.

• A)Labour services are the physical and mental work effort that people supply to produce goods and services.
• B)A labour market is a collection of people and firms who trade labour services.
• C)The price of labour services is the wage rate.
• D)Most labour services are traded on a contract, called a job.
• E)All labour markets are competitive.

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Definitions:

Psychologists

Professionals who study mental processes and behavior, often helping individuals deal with emotional and mental disorders.

Secondary Reinforcers

Stimuli that have no inherent value but have acquired reinforcing qualities through their association with primary reinforcers.

Coins

Metal pieces issued by a government as money, typically round in shape and used as a medium of exchange for goods and services.

Blue Ribbon

A symbol of high quality or achievement, often awarded in competitions.