As distinct from product market transactions,labor market transactions are unique in that:
A)to the seller,the nonmonetary characteristics of the sale can be as important as the price
B)labor demand curves slope upward
C)the price of labor is not determined by supply and demand factors
D)they are less complex

Question

Quizplus · Accepted Answer

Labor market transactions are unique in that the non-monetary characteristics such as job satisfaction, working conditions, and career development are as important to the seller (employees) as the price. In product market transactions, non-monetary characteristics are usually secondary to the price. Therefore, option A is the best choice. Options B, C, and D are incorrect because labor demand curves can slope upward, the price of labor is determined by supply and demand factors, and labor market transactions can be complex.

As Distinct from Product Market Transactions,labor Market Transactions Are Unique