When We Discuss Labour Market Constraints What Are We Specifically

question 37

Multiple Choice

When we discuss labour market constraints what are we specifically referring to?

• A) Union constraints on labour allocation
• B) Availability of employees versus demand
• C) Cost of living constraints on pay demands
• D) Managerial strategy in recruitment methods

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Definitions:

LIFO Method

An inventory valuation method that assumes the last items placed into inventory are the first ones sold during an accounting period.

FIFO

First-In, First-Out, an inventory method where the oldest items in stock are sold first.

LIFO

Last-In, First-Out, an inventory valuation method where the most recently produced or purchased items are sold first, used for cost of goods sold calculation.

Pretax Income

The amount of income earned by a business before taxes have been deducted.