If a Firm Is the Sole Employer of a Factor

question 172

Multiple Choice

If a firm is the sole employer of a factor of production, it is known as

• A)a monopoly.
• B)a competitor.
• C)a monopsony.
• D)an economically discriminating firm.

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Definitions:

Across Cultures Competency

The ability to effectively communicate, interact, and work with people from different cultural backgrounds.

Plant Manager

An individual responsible for overseeing the operations, management, and success of a manufacturing or production facility.

Task Strategy

The plan or approach adopted to accomplish a specific task or objective effectively.

Direction of Attention

The focus or concentration of mental effort on a particular object, task, or activity.