HSB Business Economics Final Review #2

When a company allows employees to have a say in improving customer satisfaction they are using

What must businesses consider when setting product prices in foreign countires?

A tax system that taxes the wealthy at a higher rate than the poor is

An expense equation is E = 45,500 + 14.32q What are the variable costs to produce one widget?

A tax system that taxes everyone at the same rate regardless on income is

A tax on imported goods is

What is it called when management prevents union employees from working during a labor dispute?

Hiring a company in another country to produce a product meeting specifications is called

The cost of defect correction

One way for a business to increase productivity is to increase its

The Internal Revenue Service (IRS) is responsible for

Relocating a business process to another country is called

Which of the following is a fixed cost?

When a country or company is the only source of a resource it is said to have a(n)

The use of robots in assembly-line work is a form of specialization involving

Which of the following is not a barrier to trade

An expense function is E = 20.00q + 50,000. Find the total cost of producing 10,000 units

Breakeven analysis identifies the level of output where

Transferring manufacturing or tasks to a company in another country is called

A tax on a specific commodity like gasoline or liquor is

Which of the following is most likely to result from specialization of labor:

Involving employees to improve production by using their suggestions & experience is

Partnering with a company in another country to share costs and operation of business is called

Breeding livestock, shipping, slaughtering, processing,  & packaging meat are examples of

In which of the following occupations would employees be organized into craft/trade unions:

A country's standard of living can be calculated by dividing the goods and services by the

A tax that is paid by the survivors of a person who has died is

Sales taxes are an example of

Which of the following examples best exhibits a manager's job task with low depth and low scope

A tax on the amount of money that a person or company earns is called

When management & union leaders cannot reach an agreement, either one may call for a(n)

Governments use tax revenue to

What is the effect on society of a falling growth rate in productivity?

Find the total hourly productivity of 2 employees each working 40 hours to produce 8000 items

A country's balance of payments includes the balance of trade and

Why should productivity be measured?

When a country exports more than it imports it has a trade __________.

Which of the following is true of employees whose jobs have low depth:

Warranty claims, customer complaints, and costs of litigation are examples of __________ costs.

A tax system that taxes the wealthy at a lower tax rate than the poor is

To reduce the chance of investigations and orders to cease production, businesses should

On a weekly average, Mary works 20 hours and fills 600 bags of groceries. Her productivity is

Costs of quality inspections, testing, test equipment, and labs are examples of ________ costs.

When a company decides to own production facilities in another country it is called

The lowest level of labor union organization is the

Quality is defined by

What is it called when one union stops work because another union at the company is on strike?

TQM stands for: