Which of the Following Is Characteristic of Service Sector Occupations

question 72

Multiple Choice

Which of the following is characteristic of service sector occupations?

• A)They have increasingly replaced manufacturing jobs as the primary employment for those with less education.
• B)They are more likely to offer benefits such as medical or dental insurance.
• C)They typically offer a "living wage" rather than just a minimum wage.
• D)They offer a solid road to the middle class.

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Definitions:

Accounting Profit

The net income a company reports on its financial statements, calculated as total revenues minus explicit costs.

Marginal Product

The additional output that is produced by using one more unit of a specific input, holding the levels of all other inputs constant.

Nonlabor Resources

Nonlabor resources refer to the materials, capital, land, and technology used in the production of goods and services, distinct from human labor.

Output

The total amount of goods or services produced by a business, industry, or economy during a given period.