Define what an occupation is. Using the example of pharmacists and a pharmacy technician in Chapter 2, explain the rationale for differences in pay within this occupation
What will be an ideal response?
Answer: An occupation is a group of jobs, found at more than one company, in which a common set of tasks is performed or is related in terms of similar objectives, methodologies, materials, products, worker actions, or worker characteristics. File clerk, clerk typist, administrative clerk, staff secretary, and administrative secretary are jobs in the office support occupation.
According to the Occupational Outlook Handbook, pharmacists possess advanced training to give them the knowledge and skills to safely fill prescriptions, verifying instructions from physicians on the proper amounts of medication to give to patients, check whether the prescription will interact negatively with other drugs that a patient is taking, affect a patient's existing medical conditions, instruct patients on using a prescribed medicine and inform them about potential side effects. Pharmacy technicians support the work of pharmacists while under their supervision. For example, technicians, take the information needed to fill a prescription from customers or health professionals, measure medication for prescriptions, package and label prescriptions, and organize inventory. Pharmacy technicians do not require advanced education; most of their training takes place on the job. Average annual pay reflects these differences. In 2013, pharmacists earned $116,500 while pharmacy technicians earned $30,840.
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The ________ requires that expenses incurred in producing revenues be deducted from the revenue they generated during the same accounting period
A) principle of prudence B) deferral principle C) materiality principle D) matching principle E) principle of continuity
When pricing a product or service, managers must consider which of the following?
A) Only period costs B) Only variable costs C) Only manufacturing costs D) All costs