Theresa Has a Contract to Teach Eighth Grade at Washington

question 43

Multiple Choice

Theresa has a contract to teach eighth grade at Washington Middle School.She decided she could make more money writing a book, so she assigns her teaching contract to her friend, Stephanie, who is also a licensed teacher.

• A)This is both an assignment and a delegation.
• B)The duties, which Theresa has delegated, are personal in nature.
• C)If the school district agrees to accept Stephanie's services, a novation would occur, which would relieve Theresa of her obligation to the school district.
• D)All of the above are correct.

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Definitions:

Inelastic Demand

A situation where the demand for a product does not change significantly when its price changes.

Marginal Revenue Product

The additional revenue generated from employing one more unit of a factor of production, holding all other factors constant.

Inelastic

Describes a situation in economics where the demand or supply of a good is not significantly changed when the price of the good changes.

Wage Rates

The standard amount of pay given to workers per unit of time, which can vary based on job, location, experience, and skill level.