Most, Sometimes All, Aspects of the Contract That Exists Between

question 23

Multiple Choice

Most, sometimes all, aspects of the contract that exists between an employer and an employee is unwritten, sometimes never even explicitly discussed. Employees work hard for an employer and engage in certain actions or behaviors because they perceive that they will be rewarded (or punished) , rather than because of any written rule or expectation. This unwritten contract is known as the:

• A) Perceptual contract
• B) Explicit contract
• C) Social contract
• D) Psychological contract

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Definitions:

Private Information

Information that is not publicly available and may give an individual or business a competitive advantage.

Hidden Problems

Issues or complications within a system or product that are not immediately obvious or visible.

Buyers

Individuals or organizations that purchase goods or services for personal use, resale, or production.

Deductibles

The amount an insured person is required to pay out-of-pocket before an insurance company will cover the remaining costs.