Answer to Question #100541 in Economics for Jaspreet singh

Question

Which one from the given options is not a characteristic of the labor market? Explain with Reason.

A) The services that are rendered by a labor can only be rented.
B) In employment transactions compared to that of market for commodities Non- pecuniary factors loom larger.
C) In employment transactions, non-pecuniary factors are generally unimportant.
D) Several institutions and regulations does not exist in other markets but are applicable to employment relationships.

Answer 1

Non-pecuniary factors are important, so the correct answer is C.