Summary Dismissal

question 62

Multiple Choice

Summary dismissal

• A)is the same thing as wrongful dismissal.
• B)means that the employee is dismissed without notice.
• C)means that the employer had just cause.
• D)means that the employee is dismissed with notice.
• E)means that the employee is dismissed with reasonable notice.

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Definitions:

Price Floor

A legally imposed minimum price set above the equilibrium price, preventing the market price from falling below a certain level.

Demand Decreases

A situation where the quantity of a good or service that consumers are willing and able to purchase at a given price declines.

Expenditure

The action of spending funds or the amount of money spent on various items or services.

Price Ceiling

A government-imposed limit on how high a price can be charged for a product or service, intended to protect consumers.