An Example of Change in the Nature of the Work

question 24

Multiple Choice

An example of change in the nature of the work force is:

• A)increase in college attendance
• B)mergers and consolidations
• C)increase in divorce rates
• D)more cultural diversity

---

Definitions:

Barriers

Obstacles or impediments that prevent or hinder access, movement, or progress within a particular area or context.

Perfect Competition

A market structure characterized by an infinite number of small firms, identical products, no barriers to entry or exit, and perfect information among buyers and sellers.

Maximizing Profit

The procedure a business uses to establish the optimal price and amount of production for the highest profit.

Total Profit

The total financial gain generated from a business activity after subtracting all expenses and costs associated with producing and selling goods or services.