Which of the following is NOT a distinguishing characteristic of the labor market?
A) Labor services can only be rented.
B) Unlike in commodity markets, non-pecuniary factors are generally unimportant in employment transactions.
C) There are numerous institutions and regulations applicable to employment relationships that do not exist in other markets.
D) Non-pecuniary factors loom larger in employment transactions than they do in markets for commodities.

Question

Quizplus · Accepted Answer

Non-pecuniary factors actually play a significant role in employment transactions, such as job satisfaction, work-life balance, and company culture. This is a distinguishing characteristic of the labor market. The other options all describe distinguishing characteristics of the labor market.

Which of the Following Is NOT a Distinguishing Characteristic of the Labor