Licensing Gives the Members of a Profession the Right to Practice

question 21

Short Answer

Licensing gives the members of a profession the right to practice the profession.

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Definitions:

Workers

Individuals engaged in an activity, especially to earn an income.

Equilibrium Market Wage

The wage rate at which the quantity of labor supplied matches the quantity of labor demanded.

Bricklayers

Skilled workers who lay bricks to construct and repair walls, partitions, arches, and other structures.

Masonry Firm

A company specializing in the building and construction of structures using bricks, stone, concrete blocks, and other masonry materials.