If Your University Was Paying Minimum Wage When Necessary and Applying

question 97

Multiple Choice

If your university was paying minimum wage when necessary and applying the minimum legal standards to its employees work environment, it would be said to have fulfilled its ________.

• A) social obligation
• B) social responsibility
• C) social responsiveness
• D) social expectation

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Definitions:

U.S. Market

This term refers to the economic market in the United States encompassing the trading of goods, services, securities and commodities.

Comparative Advantage

The ability of a country or firm to produce a particular good or service at a lower opportunity cost than others.

Domestic Price

The price level of goods and services within a country's border, reflecting the domestic market's supply and demand conditions.