The Figures Given Below Show the Demand (D)and Supply (S)

question 34

Multiple Choice

The figures given below show the demand (D) and supply (S) curves of labor in two different markets.Figure 16.3

-An individual is induced to change his/her occupation if:

• A)the sunk cost of the current occupation is high.
• B)the expected net gains from the alternative occupation is negative.
• C)the outlook for future income, in the current occupation, increases.
• D)he/she has devoted a lot of money, time and effort in the current occupation.
• E)the marginal cost of remaining in the current occupation is very high.

---

Definitions:

Health Insurance

An insurance policy that covers costs related to medical and surgical treatments for the policyholder.

Family Medical History

A record of the health conditions and treatments within a person's family, used to identify potential health risks.

Neoclassicism

A style of art and architecture that emerged in the late 18th century as part of a general revival of interest in classical cultures. Neoclassical artists adopted themes and styles from ancient Greece and Rome.

Enlightenment

A philosophical movement of the 18th century, emphasizing reason and individualism rather than tradition, and advocating for government, ethics, and science based on rationality.