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3 years ago

1.2 Explain the concept of the labour market to a Grade 12 school-leaver. Give a

Business

1 answer:

Marianna [84]3 years ago

6 0

Answer:

The labor market is the phrase used to describe the supply of labor by employees and demand of labor by the employers as such there is an interaction between the workers and the employers where wage is paid to the workers by the employers for the labor the workers supplied

Being educated gives an employee the capacity to be more productive and gives an indication of the potential of prospective employees to recruiters and employers. Therefore, qualifications attained are an advantage when seeking employment alongside many several other job seekers

Therefore, a grade 12 school-leaver competing for a job alongside several others with similar or tertiary education is less likely to secure a desired job or vocation

However, with a tertiary education, such job seekers would more readily convince recruiters about their ability to satisfactorily perform their desired job

Explanation:

You might be interested in

Prior to labor unions, both the employer and employee had the legal right to terminate an employment

Kruka [31]

Before the times of the labor unions, both the employer and the employee reserved the right of employment at will, meaning either one could terminate the agreement at any time and for any reason.

The correct term for the situation proposed in the question is employment at will. The other options describe agreements that have arisen since the creation of the labor unions.

The first option, a closed shop, described an agreement made between the hiring party and the labor unions in which the hiring party agrees to only hire members of the union, while an open shop is just the opposite.

Collective bargaining, on the other hand, is the long process in which the workers of an institution work through their labor unions in order to negotiate contracts and the terms of employment, which include income and benefits.

Therefore the only option that existed prior to the development of labor unions is employment at will, which allowed the termination of a contract at any time for any reason.

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3 0

3 years ago

Aguilera corp. has a current accounts receivable balance of $336,500. credit sales for the year just ended were $4,515,830. what

Alika [10]

The receivables turnover ratio is an activity ratio computing how proficiently a firm uses its assets.

Receivables turnover ratio can be calculated by: net value of credit sales during a given period divided by the average accounts receivables.

Receivables turnover = sales / receivable

= 4,515,830 / 336,500

= 13.42

Days’ sales in receivables = 365 days/ receivable turnover

= 365 / 13.42

= 27.20

The average collection period is 27.20 days.

6 0

3 years ago

An organization owned by stockholders that accepts deposits, processes payments, and

Oxana [17]

Answer:

A Bank

Explanation:

8 0

3 years ago

Projects often include indirect costs that are necessary to keep the organization running, but are not associated with one speci

Sedbober [7]

Answer:

The correct answer is:

executive salaries, utilities and insurance (C.)

Explanation:

Indirect costs are costs that are not directly attributable objectively to a good, project, facility or service. Indirect costs are either fixed or variable. Fixed indirect costs are costs that do not change as the units/volumes of production change, while variable indirect costs are costs that change with change in production units. Indirect cost can also be classified as either recurring or fixed. Recurring indirect costs are those that are repeated in nature, example is salaries of laborers, while fixed indirect can be cost of transportation. In this example, executive salaries, utilities and insurance are not directly attributable to a specific project at hand; the executives do not partake in the project hands-on, insurance and utilities such as electricity rent are not project-specific and it is financially infeasible to do so.

On the other hand, direct costs are costs that are directly attributable to the object, and it is financially feasible to do so, hence travel cost, labor, consultant and subcontractors costs, and material costs are all directly linked to the project (object).

3 0

3 years ago

One of the goals of the Federal Reserve is price stability. For the Fed to achieve this goal,

rewona [7]

Answer:

The correct answer is option C.

Explanation:

One of the goals of the federal reserve banks is to have price stability in the economy. Though price stability does not imply zero inflation. A small level of inflation is good for economy as it helps in growth of production.

So in order to acheive the goal of price stability, the rate of inflation should be low such as 1-3% and it should be consistent.

Very high inflation is harmful for the economy as it erodes the real income and wealth. Deflation is also not good for economy as it causes reduction in production and employment

5 0

3 years ago