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WorksheetsEconomics & Business: Is WalMart Good for America?
Total questions: 20
Worksheet time: 10mins
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______.
Offshoring
Outsourcing
Globalization
Moving operations from the country where a company is headquartered to a country where pay rates are lower and the necessary skills are available.
Foreign markets
Offshoring
Outsourcing
What do you mean by production?
a. process of making or manufacturing products from raw materials
b. process of rendering services to the client
c. process of manufacturing goods and products from raw materials
d. None of these
………………system and ……………… system is a product-centric and customer-centric
a. Push and Pull
b. Pull and Push
c. Pull and pull
d. Push and push
A …………. system uses signals to request production when delivery from upstream sections
a. Push
b. Pull
c. None of these
A mixed economy combines the best parts of which other economies? This question has two correct answers.
Market and Command
Traditional and Market
Command and Traditional
Socialism and Capitalism
This characteristic of a mixed economy states that the vast majority of labor, resources, and capital goods are owned by individuals rather than by the government.
Private Property
Freedom of enterprise and choice
Motive of Self-Interest
Competition
This characteristic of a mixed economy states that business owners, consumers and workers are free to make choices that best fit their needs and interests.
Private Property
Freedom of enterprise and choice
Motive of Self-Interest
Competition
What is a Command Economy?
CAPITALISTIC economy in which there is free competition and prices are determined by interaction of supply and demand
An economic system COMBINING private and public enterprise.
When production, investment, price, and income are determined centrally by a GOVERNMENT.
A system that relies on customs, history, and time-honored beliefs.
What is one advantage of a Command Economy?
Individual freedom for everyone
Health and public services are available to everyone at little or no cost.
The government rarely interferes.
Able to adjust to change gradually
What is one disadvantage of a Command Economy?
Requires large bureaucracy, which consumes resources
Lower standard of living
Does not produce enough public goods
Workers and businesses face uncertainty as a result of competition and change.
An organization of workers dedicated to protecting members' interests and improving wages, hours and working conditions for all.
Labor Union
Workers Rights
Worker Strikes
Collective Bargaining
The negotiation of wages and other conditions of employment by an organized body of employees
Labor Unions
Workers Rights
Worker Strikes
Collective Bargaining
All of these are true about arbitration, except...
a form of alternative dispute resolution
the decision can only be binding to the parties if it is enforced by a court
it is submitted by agreement of the parties
the parties cannot withdraw from the arbitral procedure
all of these are true
the pros of arbitration are these below, except...
efficient
private
can be appealed
flexible
all of these are true
these are the main principles in arbitration, except...
binding
confidential
neutral
consensual
all of these are true
Which of the following is not a Fundamental Right in the Constitution of India?
Right to work
Right to Equality
Right to Freedom of Religion
None of the above
