Which of the Following Is NOT a Distinguishing Characteristic of the Labor

question 4

Multiple Choice

Which of the following is NOT a distinguishing characteristic of the labor market?

• A) Labor services can only be rented.
• B) Unlike in commodity markets, non-pecuniary factors are generally unimportant in employment transactions.
• C) There are numerous institutions and regulations applicable to employment relationships that do not exist in other markets.
• D) Non-pecuniary factors loom larger in employment transactions than they do in markets for commodities.

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Definitions:

External Locus

Refers to the belief that outside forces, rather than personal actions, control one's life circumstances.

Locus of Control

A psychological concept that refers to individuals’ beliefs about the extent to which their actions influence the rewards and consequences they experience.

Stable Worldview

A consistent and unchanging perspective or set of beliefs about the world and one's place within it.

Physical Health

A state of physical well-being in which a person is physically able to perform daily activities without restrictions or limitations.