A Strategy in Which Employees of a Service Company Are

question 25

Multiple Choice

A strategy in which employees of a service company are hired as contractors to work for a certain number of hours per year for fixed sum of money is called ______.

• A)subcontracting
• B)outsourcing
• C)annualized hours strategy
• D)monthly hours strategy

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Definitions:

Private Property

Owned assets or possessions that are legally recognized and protected, excluding those owned by government entities.

Freedom of Enterprise

The freedom for individuals to start and operate private businesses in search of profits with minimal government intervention.

Competition

The economic rivalry between companies or individuals for a larger share of a market, leading to better quality products and services at lower prices.

Competition

The rivalry among sellers trying to achieve such goals as increasing profits, market share, and sales volume by varying the elements of the marketing mix.