Labor Market Trends - Review

Front

A worker is also known as an

Back

employee

Front

People that work for themselves are called:

Back

self employed

Front

A worker who works for the whole working day and week, all year except for holidays is known as:

Back

full-time working

Front

Within approximately 30 years (1870 - 1900) - Americans went mostly from . . .

Back

farmers to mostly factory workers

Front

To improve their labor conditions, many industrial workers formed: Trust, Holding company, Monopoly, Unions

Back

Unions

Front

Why did it take so long for people to be able to have their own computer in their house?

Back

It was too expensive

Front

The transfering of work from a specific area of the company ( e.g. accounting, manufacturing) to an outside supplier, which can be done to a company that is located in the home country or anywhere else is called______.

Back

Outsourcing

Front

Define outsourcing.

Back

A practice used by different companies to reduce costs by transferring portions of work to outside suppliers rather than completing it internally.

Front

Which of the following is not correct about "outsourcing?" Options: It involves a company hiring another country to do certain work activities., It can reduce labor costs., Outsourcing countries are often in developing companies.

Back

It increases costs of producing goods/ services.

Front

Which of these is not a benefit of outsourcing jobs? Residents in other countries learn about a company’s product, Workers in the UK. lose their jobs, A company makes a larger profit because the cost of labour is lower.

Back

Workers in the UK. lose their jobs