What Is a Term Used to Describe When Independent Contractors

question 46

Multiple Choice

What is a term used to describe when independent contractors work from their homes, pay for their own health care and retirement plan, and furnish their own equipment?

• A) Sunrise industry
• B) Offshoring
• C) Homesourcing
• D) Oursourcing

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Definitions:

Demand Curve

A curve showing the relation between the price of a good and the quantity consumers are willing and able to buy per period, other things constant.

Market Demand Curve

A graphical representation that depicts the total quantity of a good or service that all consumers in a market are willing and able to purchase at various prices.

Law of Demand

The economic principle stating that as the price of a good decreases, consumer demand for that good will increase, and vice versa, holding everything else constant.

Quantity Demanded

The amount of a good consumers are willing and able to buy per period at a particular price, as reflected by a point on a demand curve.