A2 chap6

In many countries, legally protecting the rights of workers takes the following forms except:

• Written contract of employment

• Holiday and pension entitlements

• Minimum bonus for senior employees

• All of the above

The government of a developing country decides to introduce a minimum wage that is 10% higher than the current average wage of the lowest-paid 5% of employees. Which of the following statements, concerning the impact of the minimum wage, is most likely to be true?

• It will only have an effect on the wages of the 5% employees.

• Businesses will not be able to afford to pay their low-paid workers

• It will increase costs for some businesses.

• It will improve the international competitiveness of the economy

What is the most likely benefit to business of strict health and safety legislation being introduced to a country?

• An immediate reduction in labor-training costs

• Reduction in fines for failing to meet minimum standards

• A reduction in lost output that results from accidents at work

• Business costs will fall

Which one of the following is not considered to be a likely benefit to consumers of free and fair competition?

• Wider choice of goods

• Lower prices

• Reduce promotional expenditure by firms

• Improved quality of products or services

Social audits are often published by businesses. They usually contain:

• The published accounts of the company.

• A record of the impact of social changes on business

• Details of the impact of business activity on shareholders

• Details of the impact of business activity on society

Trading internationally could build business, political and social link but also consist of drawbacks which need to be considered carefully by governments such as following except:

• Importers may ‘dump’ goods at below cost price to eliminate domestic competition

• Competition from existing importers will prevent ‘infant industries’ from growing domestically

• Less incentive from government for trade activities

• Experience trade imbalances as they consistently import more goods than they export, leading to trade deficits

Which one of the following is not generally considered to be a justification for protecting consumer rights?

• The imbalance of power between individual consumers and large businesses

• Globalisation has increased imports of low-priced products.

• The increasingly complex technological nature of modern products.

• To ensure consumers gain from the highest-possible quality standards

This process is carry out by external parties to the environmental performance of a company is of true and fair record.

A practice where businesses report misleading profit figures that convince shareholders that a company is a good potential investment. This is called...

Illustrate one example of a good/service that has improved/innovated with the advancement of technology.