Contracted workers have a particular term to be served and cannot leave before that and for fixed price and company does not have to give any social security or compensation to these workers.
<u>Explanation:</u>
Contracted workers are those employees who work in a company for a particular period of time and the salary of the employees is also fixed in the case of the contracted employees.
The employers are not liable to pay for any social security to these workers and the compensation of the workers are also not to be paid by the employers to these contracted workers. This proves to be an advantage for the companies they prefer these contracted employees.
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In economics, a free market is a system in which the prices for goods and services are self-regulated by buyers and sellers negotiating in an open market. In a free market, the laws and forces of supply and demand are free from any intervention by a government or other authority, and from all forms of economic privilege, monopolies and artificial scarcities. Proponents of the concept of free market contrast it with a regulated market in which a government intervenes in supply and demand through various methods such as tariffs used to restrict trade and to protect the local economy. In an idealized free-market economy, also called a liberal market economy, prices for goods and services are set freely by the forces of supply and demand and are allowed to reach their point of equilibrium without intervention by government policy.
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Loyalists were American colonists who stayed loyal to the British Crown during the American Revolutionary War, often called Tories, Royalists, or King's Men at the time. They were opposed by the "Patriots", who supported the revolution, and called them "persons inimical to the liberties of America".[1] Prominent Loyalists repeatedly assured the British government that many thousands of them would spring to arms and fight for the crown. The British government acted in expectation of that, especially in the southern campaigns in 1780–81. In practice, the number of Loyalists in military service was far lower than expected since Britain could not effectively protect them except in those areas where Britain had military control. The British were often suspicious of them, not knowing whom they could fully trust in such a conflicted situation; they were often looked down upon.[2] Patriots watched suspected Loyalists very closely and would not tolerate any organized Loyalist opposition. Many outspoken or militarily active Loyalists were forced to flee, especially to their stronghold of New York City. William Franklin, the royal governor of New Jersey and son of Patriot leader Benjamin Franklin, became the leader of the Loyalists after his release from a Patriot prison in 1778. He worked to build Loyalist military units to fight in the war, but the number of volunteers was much fewer than London expected.
When their cause was defeated, about 15 percent of the Loyalists (65,000–70,000 people) fled to other parts of the British Empire, to Britain itself, or to British North America (now Canada). The southern Loyalists moved mostly to Florida, which had remained loyal to the Crown, and to British Caribbean possessions, often bringing along their slaves. Northern Loyalists largely migrated to Ontario, Quebec, New Brunswick, and Nova Scotia. They called themselves United Empire Loyalists. Most were compensated with Canadian land or British cash distributed through formal claims procedures. Loyalists who left the US received £3 million[citation needed] or about 37 percent of their losses from the British government. Loyalists who stayed in the US were generally able to retain their property and become American citizens.[3] Historians have estimated that between 15 and 20 percent of the two million whites in the colonies in 1775 were Loyalists (300,000–400,000).[4]
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