All of the Following,except One,describes a Minimum Wage

question 16

Multiple Choice

All of the following,except one,describes a minimum wage.Which is the exception?

• A)A government regulation stipulating the minimum price must be paid to the factor labour.
• B)A government regulation stipulating the lowest rate of pay per hour for workers.
• C)A type of price floor.
• D)A type of price ceiling.

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Definitions:

Demand Variability

Fluctuations in customer demand over a period, affecting inventory levels, supply chain strategies, and production schedules.

Sourcing Decision

The process of choosing suppliers or sources for goods and services, considering factors like cost, quality, reliability, and relationship.

Outsource

The practice of contracting work out to an external organization rather than performing it in-house.

Information

Data that has been processed in such a way that it can be used to inform decisions, strategies, and actions.